AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of "a" of TPRe and its wholly-owned subsidiary, TPRe China, with the Stable Outlooks in a report published on 29 September. This is the tenth consecutive year that TPRe has been rated "A" by AM Best.

According to the report, the ratings of TPRe reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile, and appropriate enterprise risk management. The ratings also acknowledge the continued implicit and explicit support given by TPRe's parent company, China Taiping Insurance Holdings Company Limited (CTIH), in terms of capital, investment, risk oversight, and shared operational resources.

AM Best expects that over the short to intermediate term, TPRe's risk-adjusted capitalisation will remain at the strongest level, and going forward, the non-life reinsurance business will remain its key strategic focus while the life business provides a stable underwriting profit.

AM Best views that TPRe has established a strong foothold in the Greater China region and maintains a leading position in the non-life reinsurance markets in Hong Kong and Macau. TPRe also continues its expansion across different markets, with a strategic focus on emerging markets such as Southeast Asia. TPRe has partnered with its strategic investor Ageas on product development and reinsurance arrangements. CTIH, as the controlling shareholder, will continue to render strong capital and financial support to TPRe in a timely manner when necessary.

Please refer to the attachment for details: AM Best Press Release