The rating on Yasuda Fire & Marine Insurance Co. (Asia) Pte. Ltd. (Yasuda Asia) reflects the company's strategic importance to parent Yasuda Fire & Marine Insurance Co. Ltd. (Yasuda Fire, double-'A'-plus/Negative/--), and explicit support from Yasuda Fire in the form of a net worth maintenance agreement. Major rating factors: -- Supportive parent group. Yasuda Fire's commitment to Yasuda Asia is evidenced through explicit and implicit support, including a strong balance sheet, and a high level of operational integration. Yasuda Asia plays an important role in south Asia, servicing the local operations of the parent group's clients and providing underwriting control and reinsurance support to other Yasuda subsidiaries in the region. -- Satisfactory business profile. Although small in absolute terms, Yasuda
