China Taiping Insurance sees robust capitalisation with TPG financial support

It is anticipated that CTPIS will build its life insurance segment over the medium term.

China Taiping Insurance (Singapore) (CTPIS) is seen to maintain a robust risk-adjusted capitalisation, bolstered by China Taiping Insurance Group’s (TPG) financial support, according to AM Best.

This was demonstrated by a 44% increase in CTPIS’s capital and surplus, reaching $167m as of year-end 2023, primarily through a capital injection from TPG. 

Continued support from TPG is anticipated as CTPIS builds its life insurance segment over the medium term.

CTPIS's operating performance is expected to remain adequate, driven by profitable non-life operations and favourable investment income. 

However, initial costs tied to its life insurance expansion have moderated profit levels, and potential fluctuations in underwriting and investment results could impact earnings over the near term.

AM Best also noted that whilst CTPIS’s business profile is neutral, its affiliation with TPG allows preferential access to risks linked to China-based clients in Singapore.