AM Best Withdraws Generali Life Hong Kong’s Ratings

KUALA LUMPUR, Nov 4 (Bernama) -- Global credit rating agency, AM Best has affirmed the financial strength rating of A (Excellent) and the long-term issuer credit rating of “a+” (Excellent) of Generali Life (Hong Kong) Limited (Generali Hong Kong).

A subsidiary of Italy’s Assicurazioni Generali S.p.A. (Generali), the outlook of Generali Hong Kong’s credit ratings (ratings) is stable, said AM Best in a statement.

Concurrently, the credit rating agency has withdrawn these ratings as the entity has requested to no longer participate in its interactive rating process.

The ratings reflect Generali’s balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, very favourable business profile and appropriate enterprise risk management.

In addition, the ratings also factor in the strategic importance of Generali Hong Kong to Generali.

Headquartered in the United States, AM Best does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.

-- BERNAMA