S&P: Ming An positive unchanged

Standard & Poor's said that its positive outlook on its rating on Ming An Insurance Co. Ltd. (BBB/positive) remains unchanged in view of a proposed initial public offering scheduled to be completed by Dec. 22.

The IPO would reinforce the company's financial flexibility and help to improve its business position in Hong Kong and China, S&P said.

While the company's capital position would be at a very strong level after the IPO, the agency said, it is expected to moderate significantly relative to its expanded business book, particularly because of business growth in China.

The rating may be raised if the company's financial profile remains satisfactory despite an increase in China-related risks, the agency said, and the outlook may be revised to stable if the company is unable to meet this condition.

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