Bulletin: China Taiping Insurance Group Posts Weaker Half-Year 2016 Results; Ratings Unaffected

HONG KONG (S&P Global Ratings) Aug. 30, 2016--S&P Global Ratings today said that its ratings on China Taiping Insurance Group (HK) Co. Ltd. (TPGHK: BBB+/Stable/A-2; cnA+/cnA-1), its subsidiary China Taiping Insurance Holdings Co. Ltd. (CTIH: BBB+/Stable/A-2; cnA+/cnA-1), and TPGHK's core operating subsidiaries are unaffected by CTIH's weak interim financial results. The 47.1% decline in CTIH's net profit for the six months ended June 30, 2016, largely due to a significant drop in net realized investment gains, is within our expectation. We continue to anticipate that the group's capitalization will be under pressure in 2016 and 2017 amid its likely weaker earnings and fast-growth strategy in a low interest rate environment. We expect the group to maintain its fast-growth strategy, as

...HONG KONG (S&P Global Ratings) Aug. 30, 2016--S&P Global Ratings today said that its ratings on China Taiping Insurance Group (HK) Co. Ltd. (TPGHK: ###+/Stable/A-2; cnA+/cnA-1), its subsidiary China Taiping Insurance Holdings Co. Ltd. (CTIH: ###+/Stable/A-2; cnA+/cnA-1), and TPGHK's core operating subsidiaries are unaffected by CTIH's weak interim financial results. The 47.1% decline in CTIH's net profit for the six months ended June 30, 2016, largely due to a significant drop in net realized investment gains, is within our expectation. We continue to anticipate that the group's capitalization will be under pressure in 2016 and 2017 amid its likely weaker earnings and fast-growth strategy in a low interest rate environment. We expect the group to maintain its fast-growth strategy, as its first-half 2016 top-line growth shows. During this time, year on year direct premium income grew 21.1% at Taiping Life Insurance Co. Ltd. (TPL) and 15.6% at Taiping General Insurance Co. Ltd. (TPI). TPL...

Bulletin