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A.M. BEST AFFIRMS AND WITHDRAWS RATINGS OF HANG SENG INSURANCE COMPANY.

AsiaPulse News

| October 01, 2007 | COPYRIGHT 2007 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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(BW)(NJ-A.M.-BEST) A.M. Best Affirms and Withdraws Ratings of Hang Seng Insurance Company; Assigns Ratings to Hang Seng General Insurance (Hong Kong) Company

OLDWICK, N.J.--(BUSINESS WIRE)--Sept. 28, 2007--A.M. Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) and the issuer credit rating (ICR) of "aa-" of Hang Seng Insurance Company Limited (Hang Seng Insurance) (Hong Kong). The outlook for both ratings is stable.

Subsequently, A.M. Best has withdrawn both ratings and assigned a category NR-3 (Rating Procedure Inapplicable) to Hang Seng Insurance in response to the transfer of its entire general insurance portfolio to Hang Seng General Insurance (Hong Kong) Company Limited effective September 1, 2007.

Concurrently, A.M. Best has assigned an FSR of A+ (Superior) and an ICR of "aa-" to Hang Seng General Insurance (Hong Kong) Company Limited (Hang Seng General Insurance). The outlook for these ratings is stable.

Hang Seng General Insurance's business mix, distribution channel and investment strategy has remained unchanged since the transfer.

...

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Source: HighBeam Research, A.M. BEST AFFIRMS AND WITHDRAWS RATINGS OF HANG SENG INSURANCE...