HONG KONG (Standard&Poor's) May 20, 2014--Standard&Poor's Ratings Services said today that it had affirmed its ratings on the following five Korean property and casualty (P&C) insurers: Dongbu Insurance Co. Ltd., Hyundai Marine&Fire Insurance Co. Ltd., Korean Reinsurance Co., Samsung Fire&Marine Insurance Co. Ltd., and Seoul Guarantee Insurance Co. (see list below). The outlooks on the ratings on the companies remain stable. The affirmations follow our revision of our industry and country risk assessment (IICRA) score for Korea's P&C insurance sector to "intermediate risk" from "low risk" (see "Korea?s Property&Casualty Insurance Sector IICRA Has ?Intermediate Risk?," May 19, 2014). We affirmed the ratings on the five insurers, as the revised IICRA
