HONG KONG, Feb 7 (Bernama-BUSINESS WIRE) — AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” (Excellent) from “a+” (Excellent) and affirmed the Financial Strength Rating of A (Excellent) of Fubon Insurance Co., Ltd. (Fubon Insurance) (Taiwan). Concurrently, AM Best has placed these Credit Ratings (ratings) under review with negative implications.
The ratings reflect Fubon Insurance’s balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, favourable business profile and appropriate enterprise risk management. The ratings also reflect the support that the company receives from its ultimate parent, Fubon Financial Holding Co., Ltd. (Fubon Financial Holding).