HONG KONG--(BUSINESS WIRE)--A.M. Best has affirmed the financial strength of A (Excellent) and the issuer credit rating of “a” of BOC Group Life Assurance Company Limited (BOCGL) (Hong Kong). The outlook for each rating is stable. Concurrently, A.M. Best has withdrawn the ratings of BOCGL upon management’s request to no longer participate in A.M. Best’s interactive rating process.
The ratings of BOCGL reflect its good risk-adjusted capitalization and solid competitive position in Hong Kong’s life insurance market. The ratings also recognize the continued capital and operational support provided by its banking parent, BOC Hong Kong (Holdings) Limited (BOCHK).
Offsetting these positive rating factors is the potential volatility in BOCGL’s regulatory solvency arising from market risks; for example, a widening of credit spread in its corporate bonds investments.
Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.
This press release relates to rating(s) that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page.
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