Ratings agency, AM Best has assigned Generali Hong Kong a Financial Strength Rating of “A” (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent).
The outlook assigned to these ratings is stable.
The ratings reflect Generali Hong Kong’s inclusion as a member of the lead rating unit of Assicurazioni Generali S.p.A. (Generali) (Italy) which has a balance sheet strength that AM Best assesses as strong, as well as its strong operating performance, very favourable business profile and appropriate enterprise risk management.
In a press release, Generali stated, “This recognition from AM Best is a major milestone for Generali Hong Kong, and we are delighted that our continual efforts are affirmed by a leading rating authority.”
“With a combination of local knowledge and Generali’s global expertise, we are committed to becoming Lifetime Partner to our customers, providing innovative and comprehensive insurance solutions to meet their evolving needs.”
Generali Hong Kong is a wholly owned subsidiary of Generali, which is among the leading insurance groups worldwide, with gross premium written of EUR 75.8 billion in 2021.