AM Best : Revises Outlooks to Positive for CMB Wing Lung Insurance Company Limited
06/04/2021 | 11:32am EDT
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AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of CMB Wing Lung Insurance Company Limited (CMBWLI) (Hong Kong).
The Credit Ratings (ratings) reflect CMBWLI’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and marginal enterprise risk management.
The revised outlooks to positive from stable reflect CMBWLI’s improvement in investment risk control and governance, risk identification and monitoring tools, and risk quantification capability. AM Best expects the company’s risk management framework to become more developed and better aligned with market practices, partially driven by regulatory initiatives to stren