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China Taiping Insurance (HK) Co. Ltd. Dec 11 Product Image

China Taiping Insurance (HK) Co. Ltd. Dec 11

  • ID: 2036046
  • December 2011
  • Region: China
  • Standard & Poors

Abstract
Strong capitalization Good market position Satisfactory investment profile Moderate albeit improving underwriting performance Above-market-average exposure to statutory liabilities in Hong Kong The rating on China Taiping Insurance (Hong Kong) Ltd. (CTI HK) reflects the insurer's strong capitalization, good market position within Hong Kong's competitive non-life insurance market, and satisfactory investment profile. The company's modest though improving underwriting performance, and its above market-average exposure to statutory liability classes moderate these strengths. We believe CTI HK's capitalization has strengthened after the company sold Ming An Insurance (China) Co. Ltd. (MAC; not rated). Our view is based on the modest size of CTI HK's Hong Kong operations compared to that of MAC. In the first half of 2011, CTI HK transferred about Hong...

Companies mentioned in this report are: China Taiping Insurance (HK) Co. Ltd.
Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

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