S&P rates MetLife Ltd. A+

Standard & Poor’s said it assigned an A+ long-term local-currency counterparty credit and financial strength ratings to MetLife Ltd., along with a cnAAA Greater China regional scale rating.

The outlook is stable.

The A+ rating on MetLife reflects the company’s BBB+ stand-alone credit profile and three notches of support because MetLife Ltd. is a strategically important subsidiary of MetLife Inc., S&P said.

MetLife Ltd.’s stand-alone rating reflects the company’s modest position in Hong Kong’s life-insurance market, growing business volume, moderately strong capital and earnings and adequate financial flexibility, the agency said.

As a strategically important subsidiary to MetLife Inc., MetLife Ltd. plays an important role in the parent group’s growth strategy and expansion within Asia, S&P said.

MetLife Ltd. benefits from group support in areas of risk management, product development, skilled personnel, investments, information technology and human resources, the agency added.

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