Fitch revises Hanwha Life view to stable

Fitch Ratings said it revised Hanwha Life Insurance Co. Ltd.’s outlook to stable from negative and affirmed its A- issuer default rating. The agency also affirmed Hanwha's $1 billion of subordinated hybrid securities due 2048, which may be extended, at BBB+.

“The stable outlook reflects Fitch's expectation that HWL will sustain its capital strength and operating stability in the near term, given its business focus and asset allocation. Our expectations for HWL are more favorable than the pro forma results implied by our 2020 pandemic stress-test analysis, which was the basis for the prior negative outlook. Low-interest rates amid the coronavirus pandemic are likely to constrain HWL's ability to significantly improve its financial performance, but we expect capitalization and earnings to remain above our downgrade rating sensitivities,” the agency said in a press release.

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