The Hong Kong subsidiary swung back to profit in 2024, with the ratings agency also pointing to the importance of its cross-border role linking mainland China and Hong Kong.
AM Best assigned the single-parent captive an A- Financial Strength Rating and "a-" Long-Term Issuer Credit Rating, citing a balance sheet strength assessed as "very strong".
Low insurance take-up should cap insured losses, but the event may add scrutiny to the net retention strategy cedents have pursued in response to rising reinsurance costs.
The Bangkok-based non-life reinsurer earns an aa+.TH national scale rating, though AM Best flagged exposure to heightened credit and liquidity risks from holdings in a sanctioned country.
