S&P affirms Hang Seng

Standard & Poor's said it affirmed its A+ insurer financial strength and counterparty credit ratings on Hang Seng Life Ltd. (HSL).

The outlook is stable.

S&P said the ratings reflect HSL's strong credit profile and the benefits of being a key subsidiary of Hang Seng Bank Ltd. (AA-/stable/A-1+).

The agency said they also reflect the company's strong business position, improved operating performance, prudent investment strategy and satisfactory capitalization.

However, HSL's performance is likely to remain subject to currently low, albeit increased, interest rates and volatile investment markets over the short term, S&P added.

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