AM Best Assigns Credit Ratings to China Shipowners Mutual Assurance Association
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.
Strong P&I renewal for 2023/24, owned tonnage increased to 79 million
The China Shipowners Mutual Assurance Association is pleased to announce a successful renewal of its P&I policies for 2023/24 following the closure of the renewal season on 20 February. The Association continues to enjoy a steady growth in business against challenging market conditions. Its mutual P&I now stands at a record high of 187 Members, 1,746 Entered Vessels, and 79 million Gross Tonnage.
AM Best Assigns Credit Ratings to China Shipowners Mutual Assurance Association
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.