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10 August 2010 – Fitch confirmed today China life insurance Co Ltd’s (SHA:601628; HKG:2628) insurance financial strength rating (IFS) of A+ with a “stable” outlook.
The rating assesses China Life’s favourable product characteristics with low guaranteed rates, well-established franchise and distribution capability and consistently solid risk-based capitalisation, the agency said.
They are further underpinned by the implicit capital and policy aid from the Ministry of Finance (MoF), in light of China Life’s majority state ownership, large policyholder base and sufficient role in the country’s financial system.
Key rating sensitivities are the continuing challenges, in particular the stagnant interest rates and volatile stock market in the aftermath of the global economic turmoil, as well as the issuer’s risk concentration in China, Fitch noted.
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