On Dec. 21, 2007, Standard&Poor's Ratings Services took rating actions on six insurance subsidiaries of HSBC Insurance Holding (Asia-Pacific) Ltd., which is ultimately owned by Hongkong and Shanghai Banking Corp. Ltd. (HSBC Asia-Pacific; AA/Stable/A-1+). Standard&Poor's assigned its 'A+' local currency insurer financial strength and counterparty credit ratings to Hang Seng General Insurance (Hong Kong) Ltd. The outlook is stable. Standard&Poor's affirmed the 'A+' local currency insurer financial strength and counterparty credit ratings on Hang Seng Insurance Co. Ltd. The outlook is stable. Standard&Poor's also affirmed its 'AA' local currency insurer financial strength and counterparty credit ratings on HSBC Insurance (Asia) Ltd. and HSBC Life (International) Ltd. The outlooks are stable. It also