Shinhan Life Insurance Achieves Highest Insurance Payment Ability Rating (AAA) for 14 Consecutive Years
AAA Rating Every Year Since 2008
[Asia Economy Reporter Ki Ha-young] Shinhan Life Insurance announced on the 10th that it has received the highest rating of 'AAA' for the 14th consecutive year in the Insurance Financial Strength Rating (IFSR) conducted by NICE Credit Rating.
Shinhan Life Insurance, which has obtained the AAA rating every year since 2008, was recognized this year as having the highest level of long-term insurance payment capability and being stable enough not to be affected by environmental deterioration.
The Insurance Financial Strength Rating evaluates the overall financial soundness related to insurance payment capability at a certain point in time. Through this, the insurer's insurance payment ability and management stability can be confirmed.
According to the evaluation report, Shinhan Life Insurance was assessed to have secured an excellent business foundation, continuing stable growth based on the outstanding brand awareness of the Shinhan Financial Group. It was also analyzed to have stable profit-generating power due to a qualitatively excellent insurance portfolio centered on protection-type insurance. Along with this, it is pursuing a stable asset management strategy, and it is expected to maintain profitability over a long period even when market conditions fluctuate in the future.
In addition, it was evaluated that Shinhan Life Insurance will maintain an excellent level of capital adequacy in the future through ▲ stable retained earnings size ▲ sufficient liquidity to cover insurance payouts ▲ excellent support capacity of Shinhan Financial Group.
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Don't Throw Away Coffee Grounds" Transformed into 'High-Grade Fuel' in Just 90 Seconds [Reading Science]
- Signed Without Viewing for 1.6 Billion Won... Jamsil and Seongbuk Jeonse Prices Jump 200 Million Won in a Month [Real Estate AtoZ]
- "Groups of 5 or More Now Restricted"... Unrelenting Running Craze Leaves Citizens and Police Exhausted
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
A Shinhan Life Insurance official said, "We received a good evaluation for maintaining a solid business stance centered on protection-type insurance and for our long-term stable asset management efforts," adding, "We will strive to gain more trust from customers based on excellent financial soundness."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
