Singapore-based property and casualty insurer Tenet Sompo is a highly strategic subsidiary of Sompo Japan Nipponkoa Group. We are affirming our 'A' local currency long-term financial strength rating on the insurer. We are also assigning our 'A' counterparty credit ratings and our 'axAAA' long-term ASEAN regional scale rating to Tenet Sompo. The stable outlook on Tenet Sompo reflects our expectation that the insurer will maintain its highly strategic role in Sompo Japan Nipponkoa Group. On Dec. 22, 2014, Standard&Poor's Ratings Services affirmed its 'A' local currency long-term financial strength rating and assigned its 'A' counterparty credit ratings to Tenet Sompo Insurance Pte. Ltd. The outlook is stable. We also assigned our 'axAAA' long-term ASEAN regional scale rating to
