巴黎人娱乐城

Capitalisation Supports Financial Strength: Capitalisation is an important rating driver that underpins the ratings of the Chinese non-life insurers in this peer group. Insurers generally maintain sufficient capital strength, in terms of the 巴黎人娱乐城 Prism Model scores or statutory solvency ratios, to support their premium expansion and asset volatility. The Prism Model scores of this peer group are diverse, ranging from ‘Extremely Strong’ to ‘Adequate’, which are generally commensurate with their Insurer Financial Strength (IFS) Ratings. Operating Stability Drives Ratings: The credit strength of rated companies is in general highly influenced by underwriting stability. Insurers with higher IFS Ratings tend to produce more stable underwriting profitability. Conversely, insurers with weaker ratings, to a certain extent, have higher underwriting volatility and a limited operating record. Nonetheless, a steady investment yield contributes favourably to most insurers’ overall operating stability. Company Profile Varies: 巴黎人娱乐城’ view on the company profiles of this group of rated Chinese non-life insurers takes into consideration their operating scale, franchise value, business risk profile, diversification and corporate governance. The company profile typically carries a ‘higher influence’, while market shares under this peer group are generally in the category of ‘Favourable’ to ‘Moderate’. Companies with higher IFS Ratings tend to have a longer operating history, broader geographical coverage, or unique business niches in accessing quality business. Manageable Risky-Assets Exposure: Most in the peer group have exposures to risky assets that are below the guidelines of their IFS Rating categories, except Guoren P&C, which has a higher risky-asset ratio due to increased equity-type investments and weakened capitalisation. Risky assets include equities, equity-type investment funds, property and portions of the values of fixed income-type assets. Some insurers’ allocations to non-standard assets are still high, but are dropping.