China Reinsurance (Group) Corp. Was Assigned “A+” by S&P for the First Time
On Dec. 22, 2014, Standard & Poor's Ratings Services assigned its 'A+' long-term insurer financial strength and issuer credit ratings to China Reinsurance (Group) Corp. (China Re Corp.) and its core subsidiaries China Property & Casualty Reinsurance Co. Ltd. (China Re P&C) and China Life Reinsurance Co. Ltd. (China Re Life). And the outlook given by S&P is “stable”.
The S&P’s “A+” result illustrates China Re’s strong operational status and adequate financial condition. Also, the rating reflects the company’s reputation as the largest reinsurer in China, strong connection with the primary insurers, as well as good business diversity. The outlook shows that China Re maintains a highly competitive position, and that it performs “stable” at the government importance and capital profitability.
The rating result is a representation that China Re steadily pushed forward strategy implementation, reform and innovation in line with the market-oriented, professional and international strategic objectives, and a recognization that international rating agency accept China Re’s management capability and business performance. In the further, the “A+” rating will have a positive effect for China Re to fulfill strategic plan, enhance main channel status of reinsurance in China, expand international business, promote enterprise image, and build higher public trust.