The ratings on Asia Insurance Co. Ltd. (Asia Insurance) reflect its strong financial profile, its position as a major general insurer in the Singapore market, and its core operating status within the Asia General Holding Company Group. The company's strong financial profile is underpinned by its strong capitalization, prudent reserving policies, and consistent operating profitability track record over the past six years. These strengths, however, are moderated by the relatively high reliance on its motor portfolio as well as the pressures on the general insurer's underwriting performance, given the competitive business environment. Nevertheless, the company has begun to make strides in improving its business portfolio mix and its underwriting position as a result of initiatives undertaken, such as revising premium
