Bulletin: Ratings On China Taiping Insurance Group (HK) And Its Subsidiaries Unaffected By Proposed Share Placement

HONG KONG (Standard&Poor's) May 8, 2015--Standard&Poor's Ratings Services said today that its ratings on China Taiping Insurance Group (HK) Co. Ltd. (TPGHK: BBB+/Stable/A-2; cnA+/cnA-1), China Taiping Insurance Holdings Co. Ltd. (CTIH: BBB+/Stable/A-2; cnA+/cnA-1) and other group subsidiaries are not affected by CTIH's proposed new share placement. We expect the companies to continue to benefit from a "high" likelihood of extraordinary government support, given their majority ownership by China Taiping Insurance Group Ltd. (TPG). The other subsidiaries are: Taiping General Insurance Co. Ltd. (local currency: A/Stable/--; cnAA+/--), China Taiping Insurance (HK) Co. Ltd. (local currency: A/Stable/--; cnAA+/--), and Taiping Reinsurance Co. Ltd. (local currency: A/Stable/--; cnAA+/--). In our opinion, TPGHK and CTIH together play an "important" role

...HONG KONG (Standard & Poor's) May 8, 2015--Standard & Poor's Ratings Services said today that its ratings on China Taiping Insurance Group (HK) Co. Ltd. (TPGHK: ###+/Stable/A-2; cnA+/cnA-1), China Taiping Insurance Holdings Co. Ltd. (CTIH: ###+/Stable/A-2; cnA+/cnA-1) and other group subsidiaries are not affected by CTIH's proposed new share placement. We expect the companies to continue to benefit from a "high" likelihood of extraordinary government support, given their majority ownership by China Taiping Insurance Group Ltd. (TPG). The other subsidiaries are: Taiping General Insurance Co. Ltd. (local currency: A/Stable/--; cnAA+/--), China Taiping Insurance (HK) Co. Ltd. (local currency: A/Stable/--; cnAA+/--), and Taiping Reinsurance Co. Ltd. (local currency: A/Stable/--; cnAA+/--). In our opinion, TPGHK and CTIH together play an "important" role for the Chinese government by conducting insurance business overseas, while maintaining their presence in the domestic insurance market. The...

Bulletin