Nan Shan Life And Nan Shan General 'A-' Ratings Remain On CreditWatch Negative

Nan Shan Life received regulatory business orders to suspend sales of investment-linked products until the quality of its new information technology (IT) system is reassured. We are extending our CreditWatch with negative implications on Nan Shan Life and its subsidiary Nan Shan General until we have greater clarity on progress in resolving Nan Shan Life's IT issues and the impact on the insurer's creditworthiness, particularly its business franchise and management culture. We expect to affirm the 'A-' ratings if we conclude that Nan Shan Life can effectively resolve the IT issues in the next three months and if we don't foresee further damage to the company's franchise, business, or financial strength. TAIPEI (S&P Global Ratings) Oct. 30, 2019--S&P Global Ratings

...October 30, 2019 - Nan Shan Life received regulatory business orders to suspend sales of investment-linked products until the quality of its new information technology (IT) system is reassured. - We are extending our CreditWatch with negative implications on Nan Shan Life and its subsidiary Nan Shan General until we have greater clarity on progress in resolving Nan Shan Life's IT issues and the impact on the insurer's creditworthiness, particularly its business franchise and management culture. - We expect to affirm the 'A-' ratings if we conclude that Nan Shan Life can effectively resolve the IT issues in the next three months and if we don't foresee further damage to the company's franchise, business, or financial strength. TAIPEI (S&P Global Ratings) Oct. 30, 2019--S&P Global Ratings today kept its 'A-' long-term issuer credit rating and financial strength ratings on Nan Shan Life Insurance Co. Ltd. and its subsidiary Nan Shan General Insurance Co. Ltd. on CreditWatch with negative implications....

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