HONG KONG, March 30 (Bernama-BUSINESS WIRE) -- A.M. Best has placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Luen Fung Hang Insurance Company Limited (LFH) (Macau).
These Credit Rating (rating) actions reflect the uncertainty surrounding LFH’s liquidity and the risk that the company will not be able to comply with regulations regarding technical reserves, which could require the company to pledge a material amount of assets by April 2018 to the regulator in order to back part of the ceded reserves arising from Typhoon Hato.
These Credit Rating (rating) actions reflect the uncertainty surrounding LFH’s liquidity and the risk that the company will not be able to comply with regulations regarding technical reserves, which could require the company to pledge a material amount of assets by April 2018 to the regulator in order to back part of the ceded reserves arising from Typhoon Hato.
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