Low industry and country risk because of the company's presence in Hong Kong's life insurance market. Strong competitive position underpinned by the company's strong brand and reputation due to its association with its parent bank and high level of control over distribution channels. Strong market position in Hong Kong's life insurance sector. Upper adequate capital and earnings. Adequate financial flexibility and an intermediate risk position, both of which are neutral ratings factors. Parent group support because Hang Seng Insurance is a core subsidiary of HSBC group. Adequate enterprise risk management, with strong risk control. The stable outlook on Hang Seng Insurance Co. Ltd. mirrors the outlook on The Hongkong and Shanghai Banking Corp. Ltd. (HSBC Asia Pacific: AA-/Stable/A-1+; cnAAA/cnA-1+). This
