PURPOSE: The titled composition, prepared by incorporating a specific thermosetting amino resin with a phenol-alkyd water-dilutive resin, capable of exhibiting water and heat resistance, etc. without deteriorating the characteristics of the alkyd resin, and useful for impregnation, e.g. surface coating, etc.

CONSTITUTION: An electrically insulating resin composition prepared by incorporating (A) 95W70pts.wt. water-dilutive resin obtained by neturalizing an alkyd resin, containing 0W35wt% oil or fatty acid, having an acid value ≥20, preferably 50W100, and obtained by modifying to contain 1W10wt% phenolic resin under heating, with ammonia or an organic base, preferably a base having a pH≥9, to make the residual carboxyl groups dilutive with water with (B) 5W30pts.wt. water-soluble or hydrophilic thermosetting amino resin prepared by adding formaldehyde, etc. to an amino compound, e.g. urea, and etherifying the reaction product with a lower alcohol, mainly methanol.