am best has affirmed the financial strength rating of a (excellent) and the long-term issuer credit ratings of “a” of tpre and its wholly-owned subsidiary, tpre china in a report published on 23 september. the outlook of these credit ratings (ratings) is stable. this is the eighth and sixth consecutive years that tpre and tpre china have been rated “a” by am best respectively.
according to the report, the ratings of tpre reflect its balance sheet strength, which am best assesses very strong, as well as its adequate operating performance, neutral business profile, and appropriate enterprise risk management. the ratings also acknowledge the continued support given by tpre’s parent company, china taiping insurance holdings company limited, in terms of capital, investment, risk oversight, and shared operational resources, as well as tpre china’s high level of integration with tpre.
tpre focuses on the asian market and continues to diversify its geographic coverage and product scope in the life and non-life segments. am best expects that ageas as a strategic investor will provide additional support to tpre in overseas expansion, underwriting expertise, and corporate governance.