TOKYO (Standard & Poor's) March 30, 2006--Standard & Poor's Ratings Services today assigned its 'BBB+' long-term counterparty credit and insurer financial strength ratings to Dongbu Insurance Co. Ltd., reflecting its solid market position, strong capitalization, and good operating performance. The outlook on the long-term rating is stable. The insurer is a solid competitor in the Korean market, especially in retail lines and long-term insurance. It is ranked third in the domestic non-life insurance market, with a 14.4% share of gross premiums written in fiscal 2004. "Dongbu Insurance's capitalization is strong, and it has been improving over the past few years, mainly due to growth in retained earnings," said Standard & Poor's credit analyst Koichi Hamasaki. "Given the company's efficiency and
