This is the 12th year in a row that Taiping Re has received an A rating from Standard & Poor's.
The Zhitong Finance App learned that on April 30, Standard & Poor's released a rating report confirming Taiping Reinsurance's financial strength and issuer credit A rating. The rating outlook is stable. This is the 12th year in a row that Taiping Re has received an A rating of Standard & Poor's.
Standard & Poor's stated that Taiping Reinsurance is a core subsidiary of China Taiping Insurance Group (abbreviation: China Taiping, 00966). The rating reflects the key role played by Taiping Reinsurance in China Taiping's internationalization strategy, promoting China Taiping's expansion in the Guangdong-Hong Kong-Macao Greater Bay Area and international markets by providing reinsurance support to China Taiping subsidiaries and regional insurance market expertise.
Standard & Poor's believes that Taiping Reinsurance shares the brand reputation of its parent company China Taiping and has long benefited from the parent company's strong support in asset management, capital, information technology and risk management. Taiping Reinsurance will strengthen cooperation with shareholder Fujie to learn from its experience in risk control while continuing to expand overseas markets. Standard & Poor's anticipates that the company will maintain sufficient regulatory buffer capital to prepare for the implementation of Hong Kong's risk-based capital system.