Standard & Poor’s Ratings Services said today that it had revised its outlook on Taian Insurance Co. Ltd. (Taian Insurance) to positive from stable. At the same time, Standard & Poor’s affirmed the “BBB” insurer financial strength and counterparty credit ratings on the company. “The outlook revision reflects that the company is likely to sustain its satisfactory operating performance, despite an increase in retention of risk,” explained S&P credit analyst Connie Wong.
A.M. Best Co. has affirmed the financial strength rating (FSR) of “A” (Excellent) and issuer credit ratings (ICR) of “a+” of Quebec-based Industrial Alliance Insurance and Financial Services Inc. (IA) and its subsidiary, Industrial-Alliance Pacific Life Insurance Company of Vancouver, B.C. Best also affirmed IA’s debt ratings. The outlook for all ratings is being revised to positive from stable, which, Best said, reflects “their improved profitability and increased assets under management and administration while maintaining a strong growth in capital. Much of this asset growth has been due to the acquisitions IA has made and their successful integration. In addition, the overall level of debt remains modest, while the coverage ratio has improved.”
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