Fitch rates Shin Kong Life bonds BBB+

Fitch Ratings said it assigned Shin Kong Life Insurance Co., Ltd. (SK Life) a national insurer financial strength rating of A(twn) and national long-term rating of A-(twn).

The outlook is stable.

Fitch said it simultaneously assigned a BBB+(twn) rating to SK Life's proposed Taiwanese dollar subordinated bonds.

The net proceeds will be used to strengthen its regulatory capital position.

Fitch said the ratings reflect the insurer’s favorable company profile and satisfactory financial performance and earnings, which are offset by its weak capitalization compared with peers and high investment risk.

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