Chartis Singapore will have a strong competitive position in Singapore following the transfer of assets and liabilities from American Home Assurance's Singapore branch operation. The company has a long track record in Singapore, and will act as the regional hub for the Chartis APAC group. We have assigned our 'A+' counterparty credit and financial strength ratings to Chartis Singapore. The negative outlook reflects the outlook on the Chartis group. On Dec. 22, 2010, Standard&Poor's Ratings Services assigned its long-term 'A+' counterparty credit and financial strength ratings to Singapore-based Chartis Singapore Insurance Pte. Ltd. (Chartis Singapore). The outlook is negative. The ratings reflect the core status of Chartis Singapore to the Chartis group (we rate the core operating companies
