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A.M Best Affirms A Ratings of China Reinsurance (Group) Corporation and Its Subsidiaries

2014-05-15 14:16:11

  October 10, 2013—A.M. Best Co. has affirmed the financial strength rating of A (Excellent) and issuer credit ratings of “a” of China Reinsurance (Group) Corporation (China Re) and its subsidiaries, China Property & Casualty Reinsurance Company Ltd. (CPCR) and China Life Reinsurance Company Ltd. (CLRC) (collectively known as China Re Group). The outlook for all ratings is stable.

  The rating affirmations of China Re, CPCR and CLRE reflect the group’s consolidated capitalization, consistently favorable operating performance and leading position within the China reinsurance market.

  China Re Group’s overall high retention of operating earnings and significant revaluation gains on available-for-sale securities continued to strengthen its consolidated capital position in 2012.

  The group’s life reinsurance business also contributed positively to the operating results through its strong profile in the cross-border Renminbi (RMB) co-insurance business with life insurers in Hong Kong and other Asian markets. The group’s after-tax net income improved in 2012 over 2011, driven by significantly higher net investment gains during the year.

  In 2012, China Re Group took further steps to enhance its overall risk management capabilities under an integrated risk management approach by introducing the risk appetite system. To support the risk appetite decision-making process, the group implemented various projects to strengthen its data quality and modeling capabilities in assessing its risk units across the board on an ongoing basis.


Copyright ? China Reinsurance (Group) Corporation
Address: No.11 Jinrong Avenue, Xicheng District, Beijing, China
Post Code: 100033
IR Line:(8610)66576880

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