CTIM stays resilient amidst reinsurance reliance risk: AM Best

It maintains a 34% share in Macau non-life backed by diversified distribution channels.

China Taiping Insurance (Macau) Company Limited (CTIM) is expected to maintain stable performance, supported by strong capital and steady earnings, according to AM Best.

The insurer’s capital position is likely to remain strong, with risk-adjusted capitalisation at the highest level. 

Capital and surplus reached $132m in 2025. A conservative investment mix and reinsurance programme are expected to continue supporting its balance sheet, although reliance on reinsurance remains a constraint.

CTIM’s earnings outlook is also stable. It posted an average return on equity of 17.8% from 2021 to 2025, supported by underwriting performance and steady investment income. 

Returns are expected to stay at mid-single-digit levels, with recent improvements in claims helping profitability.

The company is expected to keep its leading position in Macau’s non-life market, with about 34% share in 2025, supported by diversified distribution and ongoing digital growth within

China Taiping Insurance Group Ltd.

Downside risks include weaker operating performance or a deterioration in the credit profile of parent China Taiping Insurance Holdings Company Limited.