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Moody's assigns AIA notes A3
Moody's Investors Service said it assigned an A3 issuer rating to AIA Group Ltd. and an Aa3 insurance financial strength rating to AIA Co. Ltd.
In addition, the agency assigned a provisional A3 senior unsecured rating to AIA Group's $3 billion global medium-term note program.
The outlook is stable.
At the same time, Moody's affirmed the Aa3 insurance financial strength rating of AIA International Ltd. with a stable outlook.
Moody's said the Aa3 insurance financial strength ratings for AIA Co. and AIA International are based on AIA Group's leading position in a number of Asian markets - Hong Kong (including Macau), Singapore (including Brunei), Thailand, Malaysia and the Philippines - and its strong profitability, which is driven by the solid underwriting and investment performance.
AIA Group has a strong level of free surplus (defined as the excess of adjusted net worth over required capital), and its individual branches and subsidiaries have comfortably met their respective regulatory solvency requirements, indicating strong levels of capital adequacy.
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