Seoul: AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of ‘a’ (Excellent) for Hanwha General Insurance Company Limited (HGI) of South Korea. The outlook for these ratings remains stable.
According to BERNAMA News Agency, the ratings reflect HGI’s robust balance sheet strength, which AM Best assesses as strong. The company also demonstrates adequate operating performance, a neutral business profile, and appropriate enterprise risk management. Additionally, the ratings are bolstered by the support HGI receives from its parent, Hanwha Life Insurance Co., Ltd. (Hanwha Life).