In December, the famous international rating agency - A.M. Best Co. officially announced that China Reinsurance Group and its three subsidiaries including CCIC were awarded “A (excellent)” for Financial Strength Rating (FSR) and “a” for Issuer Credit Rating (ICR). Rating outlook is stable. This is the fourth consecutive years for us to be awarded as “A” rating by A.M. Best.
A.M. Best is a worldwide rating agency with global reputation and influence, the rating standard and results of which are generally recognized by the international insurance and reinsurance industry. According to the A.M. Best rating structure, “A” rating in the financial strength assessment means that the company has excellent financial strength and outstanding in management and operation. This rating applies to China Re Group, China Re Property & Casualty, China Re Life and CCIC, and it reflects the strong risk-adjusted capital ratio, leading market position and excellent business performance of the Group.
CCIC belongs to China Re Group) and we are the only subsidiary that specialized in non-life primary insurance. We have been awarded “A (excellent)” for Financial Strength Rating (FSR) and “a” for Issuer Credit Rating (ICR) by A.M. Best for four years. This remarkable excellence mainly results from 1) the company has a strong market position, ranked no.6 in domestic property & casualty insurance market in terms of premium volume; 2) our business grows steadily with favorable results is; 3) we keep on improving asset quality and solvency; 4) we set up the risk appetite system and risk management information system that are leading in the industry, and our risk management techniques accumulate continuously.