(The following statement was released by the rating agency)
Oct 11 - Standard & Poor's Ratings Services said today that its ratings and outlook onAmerican International Assurance Co. Ltd. (AIA; local currency AA-/Stable/--; cnAAA/--) andAmerican International Assurance Co. (Bermuda) Ltd. (AIAB; local currency AA-/Stable/--;cnAAA/--) are unaffected by the AIA Group's recent announcement that it plans to payEuro1.336 billion (US$1.73 billion) in cash to acquire a Malaysian insurer. In our view, thetransaction will not have a material impact on the group's credit profile, and therefore wedon't expect the acquisition to change our assessment of the overall business and financial riskprofiles of AIA and AIAB. The companies' strong capital position and business profiles shouldcontinue to support the ratings.
AIA Group announced on Oct. 11, 2012, that it will acquire the entire share capital of INGManagement Holdings (Malaysia) Sdn. Bhd. (not rated) from Netherlands-based ING Insurance AsiaN.V. (not rated). The proposed transaction does not include the shares in IFB ManagementHoldings Sdn. Bhd. The proposed transaction is subject to approvals from Bank Negara Malaysia, the Minister of Finance of Malaysia, the Securities Commission of Malaysia, and astatement of no objection from the Dutch central bank. AIA targets to complete the acquisitionby the first quarter of 2013.