AM Best Affirms Credit Ratings of China BOCOM Insurance Company Limited

HONG KONG, Aug 16 (Bernama-BUSINESS WIRE) — AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of China BOCOM Insurance Company Limited (CBIC) (Hong Kong). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect CBIC’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings also reflect the wide range of support that the company receives as a wholly owned subsidiary of the Bank of Communications Co., Ltd. (BOCOM), a large state-owned banking group in China, and CBIC’s strategic importance to the group.