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fitch ratings affirms tpre's financial strength rating at a

date:08-09-2020

fitch ratings has affirmed the insurer financial strength (ifs) rating of taiping reinsurance company limited (tpre) at "a" (strong) with a stable outlook in a report published on 8 september after assessing the impact of tpre and ageas's potential equity transaction. tpre has received "a" ratings for eleven consecutive years from fitch since 2010.

according to the report, tpre is viewed as china taiping insurance group's "very important" subsidiary and plays a key role in the group's internationalization strategy. the affirmation of tpre's ifs rating reflects its improving capitalization to support its business growth and profitable underwriting performance. it is expected that the strategic partnership with ageas will reinforce tpre's long-term business growth in europe and other asian markets and will improve tpre’s corporate governance and operational efficiency through shared expertise. in addition, with the establishment of its macau representative office, tpre is expected to be well-positioned to the business opportunities created by the financial integration of the guangdong-hong kong-macau greater bay area.

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