Generali Hong Kong Assigned ‘A’ Rating with ‘Stable’ Outlook by Fitch Ratings
HONG KONG SAR - Media OutReach Newswire - 20 November 2024 - Generali Life (Hong Kong) Limited ("Generali Hong Kong") has been assigned an Insurer Financial Strength (IFS) Rating of 'A' (Strong) by Fitch Ratings, with a 'Stable' Outlook.
Mr. Alessandro Lavenia, Chief Financial Officer of Generali Hong Kong, said, "This recognition from Fitch Ratings is a major milestone for Generali Hong Kong and a testament to our sustainable growth and robust financial management. By combining our local knowledge with Generali's global expertise, we are dedicated to becoming the Lifetime Partner of our customers by providing innovative and comprehensive insurance solutions to meet their evolving needs."
This rating reflects Generali Hong Kong's strong capitalization and improving financial performance. Fitch also acknowledged Generali Hong Kong's strategic importance as a 'Very Important' operating subsidiary within Assicurazioni Generali S.p.A. (Generali Group). Additionally, Fitch highlighted Generali Hong Kong's conservative investment strategy and prudent risk management, which further reinforce its financial stability.
Please find the press release issued by Fitch Ratings here.
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The issuer is solely responsible for the content of this announcement.
Generali Hong Kong
In 1981, Assicurazioni Generali S.p.A. was first registered as an authorised insurer in Hong Kong, with the business extending into the life insurance sector in 2016 with Generali Life (Hong Kong) Limited. With a combination of local knowledge and Generali Group's global expertise, we develop unique and innovative life insurance, general insurance, specialty insurance, and employee benefits solutions to meet the needs of our customers.
Generali Group
Generali is one of the largest global insurance and asset management providers. Established in 1831, it is present in over 50 countries in the world, with a total premium income of € 82.5 billion in 2023. With around 82,000 employees serving 70 million customers, the Group has a leading position in Europe and a growing presence in Asia and Latin America. At the heart of Generali's strategy is its Lifetime Partner commitment to customers, achieved through innovative and personalised solutions, best-in-class customer experience and its digitalised global distribution capabilities. The Group has fully embedded sustainability into all strategic choices, with the aim to create value for all stakeholders while building a fairer and more resilient society.