On 1 September 2022, AM Best assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to China Shipowners Mutual Assurance Association (China P&I). The outlook assigned to these ratings is stable. It is the first time for China P&I to get rated by an established international rating agency.

The aforementioned ratings reflect China P&I’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. As the only internationalized mutual association headquartered in China, being assessed by AM Best marks an important milestone in China P&I’s history. The ratings represent an authoritative recognition of China P&I’s achievements in the past four decades, and will help China P&I usher in a new chapter of further improvements in services to members, increased efforts in the journey towards internationalization, and the pursuit of higher-quality development.

Founded in 1899, AM Best is now the largest credit rating agency in the world specializing in the insurance industry. It is widely recognized and respected for its independent, indicative and interactive rating services and assessment.

Please refer to the following link for more information:

https://news.ambest.com/PressContent.aspx?altsrc=2&refnum=32431