The ratings on The Asia Insurance Co. Ltd. reflect the company's strong financial profile, characterized by strong capitalization relative to the risks underwritten, consistent operating profitability, conservative reserving practices, and strong liquidity position. The ratings are underpinned by the company's core status within the Asia General Holdings Ltd. (AGH) group and its market position as a major general insurer in Singapore. These strengths are, however, moderated by the competitive domestic operating environment, which adds pressure to Asia Insurance's financial performance. The rating takes into account the following factors: Solid business profile that is supported by a comprehensive range of products, a strong distribution network, and adequate geographical diversification. Asia Insurance is a multi-line general insurer with its main operations in
