DB Insurance Achieves S&P Credit Rating A+... Upgraded After 7 Years

DB Insurance announced on the 11th that the global credit rating agency S&P (Standard & Poor’s) has upgraded its credit rating from A (Stable) to A+ (Stable). This is the first credit rating upgrade in seven years since 2018.

S&P revised its evaluation model in mid-November last year to analyze risk-based capital of insurance companies following the introduction of a new accounting system for domestic insurers. Under the revised capital evaluation model, S&P highly rated DB Insurance’s solid fundamental base, continuous profit-generating ability, and capital stability, leading to this credit rating upgrade.

S&P cited detailed factors for this credit rating upgrade, stating, “DB Insurance is expected to maintain high capital stability in the future through appropriate business growth based on underwriting (U/W) strategies and channel competitiveness. It is also expected to manage capital volatility well amid interest rate changes through asset-liability management (ALM), including investments in long-term high-quality bonds.” Regarding the stable outlook, S&P added, “DB Insurance is expected to maintain strong competitiveness in the Korean insurance market and solid capital strength over the next two years.”

A DB Insurance official said, “We will continue to enhance trust with domestic and international investors based on financial stability and a solid profit structure. We will strive even harder to grow as a global insurance company pursuing a happy society together with our customers.”