On Friday, 1 September, 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 Club). The outlook assigned to these ratings is stable.

The ratings reflect China P&I Club’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, China P&I Club has been assigned excellent ratings and stable outlook for two consecutive years. The ratings represent an authoritative recognition of China P&I Club’s achievements and will help the Club 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.