DB Insurance announced on the 20th that it received a basic capital hybrid capital securities (unconditional) rating of AA (stable) from Korea Credit Rating and Korea Ratings.
DB Insurance is in the process of issuing the industry's first basic capital hybrid capital securities as a proactive response to the anticipated introduction of the basic capital K-ICS (solvency) ratio regulation by financial authorities.
A representative from the credit rating agency noted that "insurance companies that can issue such capital securities are generally expected to have high interest payment stability, resulting in no significant difference from existing hybrid capital securities, and thus received the same rating."
DB Insurance received the highest rating of AAA (stable) from Korea Ratings for its claims payment ability on the 18th. The only non-life insurers to obtain the highest claims payment ability rating from both Korea Credit Rating and Korea Ratings are DB Insurance and Samsung Fire & Marine Insurance.