S&P rates ACE Insurance A

Standard & Poor's said it assigned its A long-term insurer financial strength and counterparty credit ratings to ACE Insurance Ltd. (Hong Kong).

The outlook is stable.

According to S&P, the ratings on ACE reflect strong implicit support from its parent, ACE group (main operating subsidiaries: A+/stable).

The ratings also reflect the company's good niche position in Hong Kong's general insurance market, its strong operating performance, conservative investment profile and supportive capitalization, the agency noted, adding that these factors are offset by the competitive market environment in Hong Kong that will challenge the company's growth prospects.

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