A.M. Best Affirms and Withdraws Ratings of Hang Seng Insurance Company; Assigns Ratings to Hang Seng General Insurance (Hong Kong) Company.OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating (FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current applications. Every open window takes some space in this area. See Windows memory limitation. ) of A+ (Superior) and the issuer credit rating (ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. ) of "aa-" of Hang Seng Hang Seng An index of the leading stocks on the Hong Kong stock market. Notes: The Hang Seng Index (HSI) comprises different stocks that are representative of the whole Hong Kong market. See also: DAX, Index, Nikkei, S&P 500 Insurance Company Limited (Hang Seng Insurance) (Hong Kong). The outlook for both ratings is stable. Subsequently, A.M. Best has withdrawn both ratings and assigned a category NR-3 (Rating Procedure Inapplicable in·ap·pli·ca·ble adj. Not applicable: rules inapplicable to day students. in·ap ) to Hang Seng Insurance in response to the transfer of its entire general insurance portfolio to Hang Seng General Insurance (Hong Kong) Company Limited effective September 1, 2007. Concurrently, A.M. Best has assigned an FSR of A+ (Superior) and an ICR of "aa-" to Hang Seng General Insurance (Hong Kong) Company Limited (Hang Seng General Insurance). The outlook for these ratings is stable. Hang Seng General Insurance's business mix, distribution channel and investment strategy has remained unchanged since the transfer. Hang Seng General Insurance's risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio Capital adequacy ratio (CAR), also called Capital to Risk (Weighted) Assets Ratio (CRAR)[], is a ratio of a bank's capital to its risk. National regulators track a bank's CAR to ensure that it can absorb a reasonable amount of loss. (BCAR BCAR Brunswick County Association of Realtors BCAR British Civil Airworthiness Requirements BCAR Bullitt County Animal Rescue (Shepherdsville, KY) BCAR Business Case Analysis Report BCAR Beaver Creek Array BCAR Buffalo Civic Auto Ramps, Inc. ), remained strong after the transfer. Given the company's current capital position, A.M. Best expects its risk-adjusted capitalization levels to remain adequate in the near to medium term. For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion