trending Market Intelligence /marketintelligence/en/news-insights/trending/iuapuvc984mavsuy6zl9sw2 content esgSubNav
In This List

Moody's assigns ratings to Heungkuk Fire & Marine Insurance

Blog

The Big Picture 2022 Insurance Industry Outlook

Podcast

Next in Tech | Episode 37: Insurance impacts on technology and vice versa

Case Study

A Prestigious Global Business School Gains a Competitive Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage


Moody's assigns ratings to Heungkuk Fire & Marine Insurance

Moody's has assigned South Korea-based Heungkuk Fire & Marine Insurance Co. Ltd. a first-time insurance financial strength rating of Baa1.

The outlook is stable.

Moody's said the rating reflects the company's relatively low risk investment portfolio, diversified distribution channels and improving outlook for profitability.

Heungkuk Fire & Marine's limited operating scale, less favorable product mix and relatively weak capital adequacy levels offset these credit strengths, according to the rating agency. However, Moody's does expect the insurer's profitability outlook to further improve, mainly due to the upward premium adjustment on the insurer's medical indemnity products. A large portion of these products will be repriced during 2018.