SINGAPORE (Standard & Poor's CreditWire) Aug. 30, 1999--Standard & Poor's today affirmed its singleù'A'ùplus insurer financial strength rating and its singleù'A'ùplus counterparty credit rating on Asia Insurance Co. Ltd. (Asia Insurance). The ratings reflect Asia Insurance's position as a major general insurer in the Singapore market, and the company's strong financial profile as characterized by its excellent capitalization, continued good underwriting and operating performance, and prudent management. These strengths are moderated by the pressures on underwriting results arising from the difficult insurance environment and the high level of competition present in Singapore--the company's main operating market. Asia Insurance has a solid business profile which encompasses a comprehensive product range, a strong distribution network, and good geographical diversification. Asia Insurance is
