Zhibao Labuan Reinsurance Company Limited, a wholly owned subsidiary of Zhibao Technology Inc., received a B+ Financial Strength Rating and a bbb- Long‑Term Issuer Credit Rating from AM Best on November 14, 2025. The ratings carry a stable outlook.
The ratings reflect a strong balance sheet and adequate operating performance projected for the subsidiary, which was incorporated in April 2025 and received a general reinsurance license in July 2025. Because the subsidiary had not yet commenced operations, the ratings are based on its planned capitalization, risk‑management framework, and the robust financial backing of its parent company.
For Zhibao Technology, the ratings are a key milestone that validates the financial soundness of its reinsurance arm. The subsidiary will underwrite a portion of the policies generated by Zhibao’s operating entities, Sunshine Insurance Brokers and Zhibao Health, allowing the company to capture reinsurance premiums and potential underwriting profits that were previously unavailable.
The rating also signals to investors and partners that Zhibao’s reinsurance platform is financially stable, which can enhance confidence in the company’s broader strategy to expand embedded insurance and reinsurance offerings across China and internationally. The stable outlook indicates that AM Best expects the subsidiary’s financial position to remain steady in the near term.
Zhibao’s recent financial performance underscores the company’s turnaround. In the fiscal year ended June 30, 2024, the company posted a net income of RMB 13.3 million, a sharp improvement from a net loss of RMB 43.1 million in the prior year, and revenue rose 29% to RMB 183.7 million. The positive rating complements this momentum and supports the company’s guidance for continued growth.
Chairman and CEO Botao Ma said, “We are pleased to receive these positive ratings for Zhibao Labuan. The establishment of Zhibao Labuan is a core extension of our business model and an important step in our mission to redefine insurance services through technology. We believe these ratings affirm the strength of our financial foundation and the soundness of our risk management approach.” The comment highlights the company’s confidence in its strategic expansion and its commitment to leveraging technology to drive growth.
The announcement was well received by investors, reflecting confidence in the company’s strategic expansion and its ability to generate new revenue streams through reinsurance. The ratings are expected to support Zhibao’s ongoing efforts to scale its embedded insurance platform and to deepen its presence in both domestic and international markets.
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