Core Viewpoint - AM Best has awarded Samsung Property & Casualty Insurance (China) Co., Ltd. an "A" (Excellent) Financial Strength Rating (FSR) and an "a" Long-term Issuer Credit Rating (ICR), with a stable outlook [1] Group 1 - The company has established a stable commercial insurance business and a continuously growing personal insurance portfolio, supported by two major shareholders [2] - Samsung P&C offers a wide range of insurance products, including corporate property insurance, liability insurance, engineering insurance, accident and health insurance, and return shipment insurance [2] - The company's risk-adjusted capital strength is assessed to be at the strongest level, supported by a conservative investment strategy, good liquidity, and comprehensive reinsurance arrangements [2] Group 2 - Following a change in equity, the company's capital strength has significantly improved, with its local solvency margin well above regulatory minimum requirements [2] - Both major shareholders have strong credit foundations and are expected to continue providing financial and non-financial support to the company in the medium term [2] - AM Best believes that Samsung P&C's overall risk management practices are appropriate for its risk profile [2] Group 3 - Samsung P&C was established as the first wholly foreign-owned property insurance company in China in April 2005, following a solid operational foundation in the country [3] - The company entered the auto insurance market in June 2010 and was the first foreign property insurance company to operate direct sales for auto insurance [3] - In August 2022, Samsung P&C underwent a capital increase approved by the Shanghai Banking and Insurance Regulatory Bureau, introducing Tencent and four other new shareholders, officially transforming into a joint venture supported by strategic partners [3] Group 4 - AM Best, established in 1899, specializes in credit ratings for the insurance industry and insurance-related securities, with its headquarters in the United States and regional offices in various global cities [3]

Core Viewpoint - The article highlights the significant role of China United Insurance in supporting agricultural modernization and rural revitalization through comprehensive agricultural insurance services, showcasing its commitment to serving the "three rural issues" (agriculture, rural areas, and farmers) over its 39 years of operation [1][12]. Group 1: Agricultural Insurance Business Overview - China United Insurance has a 26% market share in agricultural insurance, providing 5.3 trillion yuan in risk coverage to 380 million farmers, with total claims paid amounting to 102.1 billion yuan, benefiting 210 million households [1][4]. - The company has developed a diverse insurance product system, expanding from major agricultural products to a full range of agricultural, forestry, animal husbandry, and fishery insurance, with 4,100 products available in 2024 and a total coverage amount of 553.5 billion yuan [4][12]. Group 2: Service Depth and Innovation - The company has extended its insurance services from basic coverage to a multi-dimensional support system, including vehicle insurance, property insurance, health insurance, and environmental liability insurance, thus integrating services across various industries [5][12]. - China United Insurance has implemented innovative financial models, such as "agricultural insurance + credit + futures," to enhance the creditworthiness of agricultural operators and prevent large-scale poverty [9][12]. Group 3: Technological Advancements - The company has adopted advanced technology for efficient claims processing, achieving a claims payment of 82 million yuan for wheat insurance and 78 million yuan for cotton insurance in response to extreme weather events [6][10]. - A new generation of distributed core systems has been launched, achieving 99.97% automation in scheduling and 91.4% in claims calculation, significantly enhancing service efficiency [10][12]. Group 4: Risk Management and Prevention - In 2023, the company invested over 430 million yuan in disaster prevention and reduction, deploying a professional team of 59,000 to provide disaster warning information and conduct risk assessments [11][12]. - The implementation of the "smart frost prevention system" has effectively reduced disaster losses by over 100 million yuan in fruit orchards, demonstrating the company's commitment to proactive risk management [11][12]. Group 5: Comprehensive Support for Rural Revitalization - The company aims to integrate its development with rural revitalization across various dimensions, including industry, talent, culture, ecology, and organization, contributing to the goal of a strong agricultural sector, beautiful rural areas, and prosperous farmers [12][14]. - In 2024, the company plans to provide 126.5 billion yuan in agricultural risk coverage for staple crops, benefiting nearly 12 million farmers, while also expanding its insurance offerings to include soil maintenance and breeding insurance [12][14].