Intermediate industry and country risk for Taiwan's property and casualty (P/C, non-life) industry. The company's good competitiveness in Taiwan's commercial insurance market, but still developing personal insurance business franchise. Below-average underwriting performance records. Extremely strong capital adequacy relative to its risk profile, counterbalanced by small capital scale. Potential volatility from foreign exchange risks. Satisfactory investment leverage and prudent investment strategy. Adequate access to capital markets as a member of the Mega FHC group. Fair management in view of the company's volatile earnings records. Adequate risk control with satisfactory risk culture. Exceptional liquidity profile partly due to a prudent investment strategy. The stable outlook reflects our expectation that Chung Kuo Insurance Co. Ltd. is likely to maintain its market position in
