DB Insurance

The ratings reflect S&P’s view of DB’s very strong business risk profile(BRP) and lower adequate financial risk Profile(FRP), reflecting its very strong competitive position and lower adequate capital and earnings. S&P derives its ‘a’ anchor for the company from combination of the BRP and FRP assessments.

The stable outlook on DB is based on S&P’s view that the company will maintain its strong market position in Korea’s property & casualty(P&C) insurance market over the next 18-24 months. S&P Believes that DB will sustain its capital and earnings at the current level on the back of its moderate growth appetite and control on underwriting risks. S&P also expects DB to focus on high-quality fixed income securities for its investment portfolio in the coming few years.