HONG KONG, Aug 1 (Bernama-BUSINESS WIRE) -- A.M.
Best has upgraded the financial strength rating to A
(Excellent) from A- (Excellent) and the issuer credit rating to “a” from “a-”
of Starr Property &
Casualty Insurance (China) Company, Limited (Starr China)
(China). The outlook for each rating remains stable.
The ratings reflect Starr China’s improved risk-adjusted capitalization and operating performance. In addition, Starr China receives business and operational support from Starr International Company, Inc. (SICO) and its insurance subsidiaries, and a capital commitment from Starr Insurance & Reinsurance Limited (SIRL), a company within SICO that is a 20% shareholder of Starr China. Starr China also assumes overseas treaty business ceded from SIRL, which accounted for over 30% of total gross premiums written in 2015.
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