SINGAPORE (Standard&Poor's) Jan. 2, 2013--Standard&Poor's Ratings Services said today that its rating on Sompo Japan Insurance (Singapore) Pte. Ltd. (local currency A/Stable/--) is not affected by the company's recently announced merger with Tenet Insurance Co. Ltd. (not rated). We expect that Sompo Japan Singapore will maintain its adequate financial profile, and that integration risks for the merger will likely be minimal. In our view, the merged entity has a satisfactory and improved overall business profile and will maintain a modest size in the competitive Singapore general insurance market. Further, our rating continues to factor in support from the parent, Sompo Japan Insurance Inc. (local currency A+/Stable/--). The merger was effective Jan. 1, 2013. Sompo Japan Singapore
