Fitch Ratings downgrades outlook for six Chinese insurers

Fitch Ratings has confirmed the ratings of seven Chinese insurers [4] and revised the outlook for six of them to negative. The outlook on the seventh entity, China Life Insurance Company Limited's (IFS financial strength rating, A+), remains stable.

This decision came after the agency downgraded the outlook for China's long-term foreign currency issuer default rating (IDR) from stable to negative.

This revision concerns six insurers: China Export & Credit Insurance Corporation (IFS A+), China Taiping Insurance Group (long-term IDR A), China Taiping Insurance Group (HK) Company (long-term IDR A), China Taiping Insurance Holdings Company (long-term IDR A), Taiping Life Insurance Company (IFS A+) and PICC Life Insurance Company (IFS A+).