CONTACTS:
FOR IMMEDIATE RELEASE
HONG KONG - APRIL 12, 2017 03:54 PM (EDT)
A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of BEA Life Limited (BEA Life) (Hong Kong). The outlook of these Credit Ratings (ratings) is stable. Concurrently, A.M. Best has withdrawn the ratings of BEA Life upon management’s request to no longer participate in A.M. Best’s interactive rating process.
The ratings reflect BEA Life’s adequate balance sheet strength, favorable operating performance and the benefits it receives from its strong affiliation with The Bank of East Asia.
Offsetting these positive rating factors is BEA Life’s relatively high concentration of savings-type life insurance policies. This may expose the company to interest rate spread pressure or constrain its growth prospects if the low interest rate environment prevails.
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 Credit Ratings 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. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings.
A.M. Best is the world’s oldest and most authoritative insurance rating and information source.