S&P rates Mitsui China A

Standard & Poor's said it assigned its A long-term counterparty credit and insurer financial strength ratings to Mitsui Sumitomo Insurance (China) Co. Ltd.

The outlook is stable.

According to S&P, the ratings on Mitsui China reflect the company's strategic importance to its parent, Mitsui Sumitomo Insurance Co. Ltd. (AA/stable/A-1+).

The rating also reflects Mitsui China's strong standalone capitalization and good business quality and operating performance, S&P noted, adding that these factors are, however, partly offset by the company's relatively small market share but good niche position, compared with domestic players and regulatory restrictions on foreign players in China's insurance market.

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