We have assessed the ability of Taiwan-based life insurers to sustain their credit profiles amid increasing operating difficulties. Following our review, we are revising the outlooks to negative and affirming the ratings on four life insurers. We are also revising the outlooks on the insurers' three financial holdings companies and four affiliated group entities, and affirming the ratings. At the same time, we are lowering the Greater China credit scale ratings on eight entities. TAIPEI (Standard&Poor's) Aug. 24, 2012--Standard&Poor's Ratings Services today revised the outlooks to negative and affirmed the ratings on the following Taiwan-based life insurance companies: Outlook Revision; Ratings Affirmed To From Cathay Life Insurance Co. Ltd. Counterparty Credit Rating A-/Negative A-/Stable Financial Strength
