Hong kong: AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to 'a' (Excellent) from 'a-' (Excellent) of The People's Insurance Company of China (Hong Kong), Limited (PICC HK). Concurrently, AM Best has revised the outlook of these Credit Ratings to stable from positive.

According to BERNAMA News Agency, the ratings reflect PICC HK's balance sheet strength, which AM Best assesses as very strong, along with its adequate operating performance, neutral business profile, and appropriate enterprise risk management. The ratings also highlight the strategic importance of the company to its parent, The People's Insurance Company (Group) of China Limited (PICC Group) in China.