The rating assigned to Yasuda Fire & Marine Insurance Co. (Asia) Pte. Ltd. (Yasuda Asia) reflects its strategic importance to the parent, Yasuda Fire & Marine Insurance Co. Ltd. (Yasuda Fire), as well as explicit support in the form of a net worth maintenance agreement. -- Supportive parent group. Yasuda Fire's commitment to Yasuda Asia is evidenced through explicit and implicit support, including a strong balance sheet and high level of operational integration. Yasuda Asia plays an important role in South Asia, servicing the local operations of its parent's clients and providing underwriting control and reinsurance support to other Yasuda subsidiaries in the South-Asian region. -- Satisfactory business profile. Yasuda Asia, although small in absolute terms, has a strong share
