BOC Life maintains solid capital as profitability stays steady

The insurer remains majority-owned by BOC Hong Kong.

BOC Group Life Assurance Co. Ltd.’s outlook (BOC Life) has turned stable, due to improved credit conditions, according to Moody’s Ratings.

BOC Life’s outlook move is tied to BOC Hong Kong’s rating, given its one-notch affiliate support. 

The insurer remains majority-owned by BOC Hong Kong (Holdings) Limited and benefits from the bank’s brand and distribution network.

The affirmation reflects BOC Life’s solid capitalsation and steady profitability, although its reliance on bancassurance and corporate bond exposure remain constraints.

As of 31 December 2024, BOC Life reported $24.41b (HK$191.3b) in assets and $830m (HK$6.5b) in shareholders’ equity.