The ratings on The Asia Insurance Co. Ltd. (Asia Insurance) reflect its position as a major general insurer in the Singapore market, its solid capitalization, consistent and strong operating profitability, conservative reserving practices, and strong liquidity position. Moderating factors are the continued pressures on the company's underwriting position, reflecting the overall difficult and competitive environment in the industry. Asia Insurance possesses a solid business profile that is supported by a comprehensive product range, strong distribution network, and good geographical diversification. It is a multi-line general insurer with its main operations in Singapore, Malaysia, and Brunei. Singapore accounts for the largest portion of its business at about 72%. Asia Insurance is ranked sixth largest among the general insurers in Singapore, accounting
