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(Full text of a statement. Contact details below.) ( BW)(NJ-A.M.-BEST-CO.) A.M. Best Assigns Ratings to South China Insurance Company Limited
OLDWICK, N.J.--(BUSINESS WIRE)--Jan. 31, 2007--A.M. Best Co. has assigned a financial strength rating of A- (Excellent) and an issuer credit rating of "a-" to South China Insurance Company Limited (South China) (Taiwan).
The outlook for both ratings is stable.
The ratings reflect South China's consistent overall operating results, strong liquidity and adequate capitalization.
The ratings also acknowledge the company's extensive distribution network and operational synergies in business generation through its affiliates under the umbrella of Hua Nan Financial Holdings.
South China, a Taiwan-based insurer primarily concentrating on the personal automobile vehicle market, maintains a solid business profile through the establishment of seven branches and 28 representative offices throughout Taiwan.
Following the acquisition of South China by Hua Nan Financial Holdings, South China is capable of further leveraging the extensive branch outlets of Hua Nan Commercial Bank.