AM Best Withdraws Credit Ratings of Zhibao Labuan Reinsurance Company Limited

AUGUST 14, 2026 08:26 AM (EDT)

AM Best Withdraws Credit Ratings of Zhibao Labuan Reinsurance Company Limited

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FOR IMMEDIATE RELEASE

HONG KONG - AUGUST 14, 2026 08:26 AM (EDT)
AM Best has placed under review with developing implications the Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating of "bbb-" (Good) of Zhibao Labuan Reinsurance Company Limited (Zhibao Re) (Malaysia). Concurrently, AM Best has withdrawn these Credit Ratings as the company has chosen not to participate in AM Best's interactive rating process for the time being, in light of investor transition.

The under review with developing implications status reflects the anticipated change in ownership at Zhibao Technology Inc. (Zhibao Technology), Zhibao Re's ultimate parent, following the announcement of the definitive Securities Purchase Agreement on 31 July 2026, in which Zhibao Technology agreed to issue new securities to a group of investors. The transaction is expected to close in August 2026, subject to fulfilling customary closing conditions and obtaining required regulatory and exchange approvals. Upon completion, AM Best expects the new investors will obtain majority ownership and controllership of Zhibao Technology.

The under review with developing implications status reflects the uncertainties in the strategic role of Zhibao Re, financial conditions of the new investors, as well as parental influence on Zhibao Re from Zhibao Technology.

Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.

This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings (BCR), Best's Performance Assessments (PA), Best's Preliminary Credit Assessments (PCA) and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.