Standard & Poor’s Ratings Services has assigned its ‘BBB+’ insurer financial strength rating to Dongbu Insurance Co. Ltd. – Hawaii Branch. The outlook on the rating is stable.
S&P said the rating reflects Dongbu Insurance’s good competitive position in Korea, strong capitalization and solid operating performance. Offsetting those strengths is the company’s relatively small market share in commercial lines due to the weak brand power and credit quality of the Dongbu industrial group.
The stable outlook is based on the expectation that Dongbu Insurance will maintain its strong competitive position in the retail market, continue to operate efficiently, demonstrate good underwriting performance, and achieve adequate investment returns.
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