China Taiping Insurance Group (HK) Co. Ltd., China Taiping Insurance Holdings Co. Ltd., And Operating Subsidiaries

High likelihood of extraordinary support from the Chinese government. Diversified geographic presence with satisfactory market positions in China and Hong Kong. Established access to capital markets and other external funding sources. Thinning capital buffers due to rising capital needs stemming from very strong business growth. Susceptible to investment market volatility due to high exposure to alternative and equity assets. The ratings on China Taiping Insurance Group (HK) Co. Ltd. (TPGHK) and China Taiping Insurance Holdings Co. Ltd. (CTIH) (collectively TP Group) reflect the group's high likelihood of receiving extraordinary support from the Chinese government. The ratings also reflect TP Group's strong competitive position in China and Hong Kong and its established access to capital markets. The insurance group's mediocre capitalization

...Business Risk Profile: Strong Financial Risk Profile: Lower Adequate + High likelihood of extraordinary support from the Chinese government. + Diversified geographic presence with satisfactory market positions in China and Hong Kong. + Established access to capital markets and other external funding sources. + Thinning capital buffers due to rising capital needs stemming from very strong business growth. + Susceptible to investment market volatility due to high exposure to alternative and equity assets....

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