fitch ratings has affirmed the insurer financial strength (ifs) rating of taiping reinsurance company limited (tpre) at “a” (strong) with a stable outlook in a report published on 7 may. this is the twelfth consecutive year tpre has been rated “a” by fitch ratings.
according to the report, tpre is viewed as china taiping insurance group's “very important” subsidiary. the affirmation of tpre's ifs rating reflects its strengthened capitalisation, business growth initiatives and strong underwriting performance despite the pressure in 2020.
tpre is headquartered in hong kong and maintains a presence in its core markets within the asia pacific, mainly greater china. fitch further comments that it believes tpre is well-positioned to benefit from the business opportunities created by the financial integration of the guangdong-hong kong-macau-greater bay area. in addition, the strategic partnership with ageas may support tpre's long-term growth in europe and other asian markets.