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Insurance ratings actions: S&P affirms Manulife Financial's core subsidiaries

S&P Global Market Intelligence compiles ratings actions in the insurance space daily through 5 p.m. ET. Actions after 5 p.m. ET will be included in the following day's roundup.

U.S. and Canada

S&P Global Ratings affirmed the AA- insurer financial strength and long-term issuer credit ratings of Manulife Financial Corp.'s core subsidiaries.

The outlook is stable, recognizing the rating agency's expectation that Manulife Financial will defend its very strong competitive position without material change to financial risk profile.

Middle East and Africa

A.M. Best affirmed the financial strength rating of B++ and the long-term issuer credit rating of "bbb+" of Dubai National Insurance & Reinsurance (PSC).

The ratings reflect the company's balance sheet strength, which A.M. Best categorizes as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.

The outlook remains positive, considering the expectation that management will strengthen Dubai National's balance sheet components over the medium term, A.M. Best said.

Asia-Pacific

A.M. Best affirmed the financial strength rating of A- and the long-term issuer credit rating of "a-" of Hong Kong-based Dah Sing Insurance Company (1976) Ltd. The outlook is stable.

The ratings reflect the insurer's balance sheet strength, which A.M. Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. Also, the ratings reflect the parental support from Dah Sing Financial Holdings Ltd. in terms of capital, brand recognition, business development, product distribution, risk management and operations, the rating agency said.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.

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