TOKYO (Standard&Poor's) April 26, 2005--Standard&Poor's Ratings Services said today that there would be no ratings effect on Mitsui Sumitomo Insurance Co. Ltd. (MSI: AA-/Stable/A-1+) following its announced intention to buy Mingtai Fire&Marine Insurance Co. Ltd. (A-/Watch Pos/--) from First Financial Holding Co. Ltd (BBB-/Stable/A-3) for Taiwan dollar (NT$) 8.4 billion. The purchase of Mingtai, Taiwan's second largest insurer, is subject to approval from regulators and shareholders. Buying Mingtai will increase MSI's gross premium income from Asia, excluding Japan, by approximately 50%, but will only increase its total gross premium income by about 2.5%. In September 2004, MSI announced its plan to purchase the Asian non-life operations of U.K.-based Aviva PLC (A+/Stable/--). These acquisitions indicate
