AHA assures HDB fire insurance plans not affected
By Pearl Forss, Channel NewsAsia | Posted: 16 September 2008 2236 hrs

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SINGAPORE: The company that provides fire insurance plans for Housing and Development Board homeowners also falls under the American International Group's (AIG) umbrella.

However, the American Home Assurance (AHA) has assured homeowners they are well-capitalised.

AHA said although AIG faces short-term liquidity pressures, AIG has a deep asset base.

It added that AHA Singapore is well-capitalised and is subject to stringent regulatory and capital requirements to ensure that customers are adequately protected.

The Capital Adequacy Ratio (CAR) of the American Home Assurance Company, Singapore stands at 176 per cent compared to MAS' requirement of a 120 per cent CAR. - CNA/yt