Samsung P/C China Credit Ratings Affirmed At Excellent - AM Best
KUALA LUMPUR, Sept 24 (Bernama) -- Global credit rating agency, AM Best has affirmed the financial strength rating of A (Excellent) and the long-term issuer credit rating of “a” (Excellent) of Samsung Property & Casualty Insurance Company (China) Ltd (Samsung P/C China), with a stable outlook.
AM Best in a statement said the ratings reflect Samsung P/C China’s balance sheet strength, which it assesses as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
Samsung P/C China, a non-life insurance company in China, is jointly owned by Samsung Fire & Marine Insurance Co Ltd (SFM), Shenzhen Tencent Domain Computer Network Company Limited (Tencent Domain) and four minority shareholders.
The company continues to receive explicit and implicit support from SFM, including stable business relationships with affiliated Samsung entities and Korean Interests Abroad (KIA) clients, strong brand recognition, reinsurance support and underwriting know-how.
AM Best assesses Samsung P/C China’s risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio, supported by its substantial capital buffer following a capital injection in 2022, conservative investment strategy and relatively low underwriting leverage.
Samsung P/C China has been one of the fastest-growing non-life insurers despite having a market share of less than one per cent. It has built a stable commercial book and a growing personal lines portfolio with support from its two major shareholders.
The company offers insurance products including commercial property, liability, engineering, accident and health (A&H) and shipping return insurance. AM Best also views Samsung P/C China’s overall risk management practices as appropriate for its risk profile.
AM Best added that Samsung P/C China delivered improved operating results despite a low single-digit return on equity in 2025. Group-related commercial business from affiliated Samsung entities and KIA has been profitable and stabilised the company’s underwriting profitability.
-- BERNAMA