HONG KONG, March 10 (Bernama-BUSINESS WIRE) — AM Best has placed under review with developing implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Blue Cross (Asia-Pacific) Insurance Limited (Blue Cross) (Hong Kong). Blue Cross is a wholly owned subsidiary of The Bank of East Asia, Limited (BEA) in Hong Kong.
This Credit Rating (rating) action follows the announcement on March 4, 2022, that BEA has entered into an agreement to sell 100 percent of its shares in Blue Cross to AIA Holdings (Hong Kong) Limited (AIA Holdings HK), which is a wholly-owned subsidiary of AIA Group Limited.