EXCELLENT FINANCIAL RATING OF BLUE CROSS HONG KONG - AM BEST
KUALA LUMPUR, Aug 9 (Bernama) -- AM Best has affirmed the Financial Strength Rating of A (excellent) and the Long-Term Issuer Credit Rating of ‘a’ of Blue Cross (Asia-Pacific) Insurance Limited (Blue Cross) Hong Kong.
In a statement, the global rating agency said the outlook of these credit ratings was stable.
The ratings reflect Blue Cross’ balance sheet strength, which AM Best described as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
AM Best expects Blue Cross’ risk-adjusted capitalisation to remain at a robust level over the short to intermediate term, supported by a diversified investment portfolio.
Underwriting results have been consistently profitable over the past five years, partially attributed to an expense ratio that is lower than its peers.
Last year, net investment results declined due to heightened volatility in the capital market. Nevertheless, the high proportion of fixed income investments continued to provide the company a stream of stable interest income.
Blue Cross is a well-established mid-sized general insurance company focusing on health insurance in Hong Kong.
The company has maintained the fourth largest market share of seven per cent in terms of gross premium written in the accident and health lines, which mainly consist of group and individual medical insurance.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
