HONG KONG, March 10 (Bernama-BUSINESS WIRE) — AM Best has removed from under review with positive implications and upgraded the Long-Term Issuer Credit Rating to “a+” (Excellent) from “a” (Excellent) and affirmed the Financial Strength Rating of A (Excellent) of Blue Cross (Asia-Pacific) Insurance Limited (Blue Cross) (Hong Kong). The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings of Blue Cross were placed under review with positive implications in August 2022, following the announcement that the incumbent immediate parent, AIA Holdings (Hong Kong) Limited, a wholly owned subsidiary of AIA Group Limited (AIA), had completed the transaction to acquire 100% of shares in Blue Cross from The Bank of East Asia, Limited (BEA). AIA is a leading pan-Asian life insurance company headquartered in Hong Kong that operates in 18 markets across the Asia-Pacific region and offers a wide range of insurance products and services.
