Ageas withdraws from A.M. Best’s rating process

April 19 2015 by InsuranceAsia News Staff

Ageas Insurance Company (Asia) Ltd, one of the largest life insurance companies in Hong Kong, has requested to cease its participation in A.M. Best’s interactive rating process, A.M. Best said in a statement.

The credit rating agency, which recently established a Singapore office, said it had withdrawn the ratings of Ageas Insurance following the company’s request. A.M. Best earlier affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of the Hong Kong-headquartered insurer.

The outlook for both ratings is stable.

The statement did not mention the reason for Ageas Insurance’s request to no longer participate in the rating process. A.M. Best said it uses Best’s Credit Rating Methodology in determining the interactive ratings.

The agency said ratings are communicated to the rated firms prior to publication.

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