A.M. Best Affirms Ratings of Ageas Insurance Company Limited
A.M. Best Company, Inc.
Jason Shum, 852-2827-3430
Christopher Sharkey, 908-439-2200, ext.5159
Manager, Public Relations
Ken Chow, 852-2827-3426
Senior Financial Analyst
Jim Peavy, 908-439-2200, ext.5644
Assistant Vice President, Public Relations
A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of Ageas Insurance Company (Asia) Limited (AICA) (headquartered in Hong Kong). The outlook for both ratings is stable.
The ratings reflect AICA’s strong risk-adjusted capitalization and prudent investment allocations.
AICA's capitalization is strong relative to its risk profile. In addition, its asset portfolio is highly liquid with most assets allocated in investment grade fixed-income securities.
Partially offsetting these positive rating factors is the potential for volatility in AICA's statutory solvency ratio, as well as the relatively modest profitability of its life insurance business.
A.M. Best believes AICA is well-positioned at its current rating level. Factors that could lead to negative rating actions include operating losses, or a significant deterioration in the company's capitalization and solvency position in the event of adverse financial market movement.
The methodology used in determining these interactive ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
Ratings are communicated to rated entities prior to publication, and unless stated otherwise, the ratings were not amended subsequent to that communication.
This rating announcement has been issued by A.M. Best Asia-Pacific Limited, which is a subsidiary of A.M. Best Company. A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
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