China Taiping Insurance’s Robust Capitalisation with TPG’s Financial Support

According to AM Best, China Taiping Insurance (Singapore) (CTPIS) is expected to keep a robust risk – adjusted capitalisation, thanks to the financial support from China Taiping Insurance Group (TPG). This was shown by a significant 44% increase in CTPIS’s capital and surplus in 2023, reaching $167 million, mainly through TPG’s capital injection.

It’s anticipated that TPG will continue to support CTPIS as it develops its life insurance segment in the medium term. CTPIS’s operating performance should remain good, driven by profitable non – life operations and positive investment income. However, initial costs of life insurance expansion have reduced profit levels, and potential fluctuations in underwriting and investment results could affect earnings soon.

AM Best also pointed out that although CTPIS’s business profile is neutral, its connection with TPG gives it preferential access to risks related to Chinese clients in Singapore.

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