The ratings on ACE Insurance Ltd. (Singapore) are based on our view of the insurer's highly strategic role in the ACE group (core operating subsidiaries rated AA-/Positive). In our opinion, ACE Singapore is highly strategic to the ACE group's business strategy of developing its global presence. ACE Singapore's contribution to the group's capital and earnings is not significant--representing less than 5%--and limits the insurer's group status designation to highly strategic or lower. While ACE Singapore continues to grow its accident and health business, the insurer also services the group's multinational clients in businesses covering fire, casualty, marine, and financial lines. ACE Singapore maintains high integration with the group and has access to technical resource support in actuarial, investment, risk management,
