Taiwan's Nan Shan's national IFSR raised to 'AAA(twn)'; outlook stable - Fitch |
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Published
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Wed, 12 Dec 2007 08:27
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MUMBAI (Thomson Financial) - Fitch Ratings said it has raised the national insurer financial strength rating (IFSR) of Nan Shan Life Insurance Co Ltd to 'AAA(twn)' from 'AA+(twn)' citing the financial strength that the Taiwanese insurer derives from American International Group Inc, its ultimate parent company.The ratings agency said Nan Shan's improved profitability and its strong market position in the competitive Taiwanese life insurance market are also the reasons for an upgrade in its rating, the outlook on which is stable.Nan Shan has no subprime related holdings except some indirect exposures through investments in other financial institutions, Fitch said.TFN.newsdesk@thomson.comaka/manCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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