Summary: China Pacific Insurance Co. (H.K.) Ltd.

The ratings on China Pacific Insurance Co. (H. K.) Ltd. (CPIC HK) reflect the insurer's status as a strategically important subsidiary of China Pacific Insurance (Group) Co. Ltd (CPIC Group) and its 'bbb' stand-alone credit profile (SACP). The SACP captures CPIC HK's well-capitalized capital adequacy relative to its risk profile, modest market presence in the competitive Hong Kong property and casualty (P&C) market, and small capital base. The negative outlook on CPIC HK over the next two years reflects the outlook on China Pacific Property Insurance Co. Ltd. (CPPIC), and the core operating subsidiaries of the CPIC Group. We anticipate that CPIC HK will remain strategically important to CPIC Group. We expect inward reinsurance from CPPIC to remain a significant

...The ratings on China Pacific Insurance Co. (H. K.) Ltd. (CPIC HK) reflect the insurer's status as a strategically important subsidiary of China Pacific Insurance (Group) Co. Ltd (CPIC Group) and its '###' stand-alone credit profile (SACP). The SACP captures CPIC HK's well-capitalized capital adequacy relative to its risk profile, modest market presence in the competitive Hong Kong property and casualty (P&C) market, and small capital base. Outlook The negative outlook on CPIC HK over the next two years reflects the outlook on China Pacific Property Insurance Co. Ltd. (CPPIC), and the core operating subsidiaries of the CPIC Group. We anticipate that CPIC HK will remain strategically important to CPIC Group. We expect inward reinsurance from CPPIC to remain a significant contributor to CPIC HK's business. We also anticipate that the insurer will remain well-capitalized over the next two years....

Summary