Moody’s rates Sunshine Life debt Baa1

Moody's Investors Service said it assigned an A3 insurance financial strength rating to Sunshine Life Insurance Corp. and assigned a Baa1 rating to its proposed senior unsecured debt issuance.

The outlook is stable.

Moody’s said the A3 insurance financial strength rating reflects Sunshine Life's strong solvency, and its relatively conservative investment portfolio with minimal asset and liability mismatch when compared to Chinese peers.

The company's establishment of a solid market position in the Chinese life insurance sector in a relatively short period of time also supports the rating, though its relatively short track record of sustained profitability is a constraint to the rating.

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