TOKYO (Standard&Poor's) Oct. 1, 2001--Standard&Poor's today assigned its double-'A' insurer financial strength and long-term counterparty credit ratings and 'A-1'-plus short-term credit rating to Mitsui Sumitomo Insurance Co. Ltd. (MSI).The outlook on the long-term counterparty credit rating is negative. At the same time, Standard&Poor's withdrew its ratings on Mitsui Marine&Fire Insurance Co. Ltd. and Sumitomo Marine&Fire Insurance Co. Ltd. (see list below). MSI was formed through the merger of Mitsui Marine and Sumitomo Marine. The ratings on MSI are based on an excellent market position inherited from Mitsui Marine and Sumitomo Marine, formerly two leading Japanese nonlife insurers, and its solid financial profile characterized by very strong capitalization and good quality
