HONG KONG, March 28 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Sun Hung Kai Properties Insurance Limited (SHKPI) (Hong Kong). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect SHKPI’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.SHKPI’s risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), is maintained at the strongest level. The higher-risk assets, including non-investment-grade bonds and unlisted equities, and some sector concentration in the company investment portfolio exposed its risk-adjusted capitalisation to considerable market and credit risks. However, AM Best considers the company’s capital buffer is sufficient to absorb the associated investment risks. The company’s reinsurance programme remained appropriate, with reinsurer panels in good credit quality.
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