HONG KONG (Standard&Poor's) Dec. 20, 2011--Standard&Poor's Ratings Services said today that it has revised the outlook on its 'BBB+' long-term counterparty credit and insurer financial strength ratings on Dongbu Insurance Co. Ltd. (DBI) to positive from stable. At the same time, we affirmed the long-term counterparty credit and insurer financial strength ratings at 'BBB+'. The outlook revision reflects our view that DBI's underwriting performance will remain relatively stronger than its peers and maintain better capitalization than them. Our view is based on the company's higher operating efficiency compared to its peers, as measured by its expense ratio, and favorable market conditions. The rating affirmations reflect DBI's good market position, good underwriting performance, and adequate capitalization. These
