Prudential Life, Highest Insurance Payment Ability Rating for 3 Consecutive Years

[Asia Economy Reporter Oh Hyung-gil] Prudential Life announced on the 2nd that it has obtained the highest rating of 'AAA' for three consecutive years in the insurance payment ability evaluation conducted by Korea Credit Rating.

Korea Credit Rating highly evaluated Prudential Life for its top-level capital adequacy, conservative asset management policy, and excellent profit structure. The future rating outlook is also expected to be 'stable.'

The solvency ratio (RBC), a financial soundness indicator, stood at 368.7% (as of June), significantly exceeding the industry average (272.9%), and was also praised for the high quality composition of capital due to the absence of subordinated bonds and hybrid capital securities issuance.

Additionally, the proportion of safe assets (88.2%, as of the end of June 2021) was the highest among life insurance companies. With an insurance portfolio having a high proportion of whole life insurance, the managed assets were composed mainly of long-term bonds.

A Prudential Life official stated, "Achieving the AAA rating for three consecutive years is the result of our efforts to maintain the industry's highest level of financial soundness and profitability based on a customer-centered philosophy," adding, "We will strive to become a company that earns even greater trust from our customers."

This content was produced with the assistance of AI translation services.