S&P lifts Asia Insurance

Standard & Poor's said it raised the counterparty credit rating on Asia Insurance Co. Ltd. to A from A-.

The outlook is stable.

The upgrade reflects Asia Insurance's extremely strong capitalization, which will support the company's risk profile and provide it with a strong ability to improve its business profile, according to S&P.

The ratings also reflect the issuer's strong market position, satisfactory operating performance and high liquidity, the agency said.

These factors are partly offset by the company's slightly higher-than-average exposure to long-tail risk and equity investments, S&P said.

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