A.M. Best Affirms Ratings of Tokio Marine & Nichido Fire US Group and TNUS Insurance Company
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Thu, 05 Nov 2009 19:14:40 GMT |
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OLDWICK, N.J. - (Business Wire) A.M. Best Co. has affirmed the financial strength rating (FSR) of A++ (Superior) and issuer credit ratings (ICR) of “aa+” of Tokio Marine & Nichido Fire US Group (US Group) and its members. The US Group is comprised of the U.S. Branch of Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF) (Japan) and its three wholly owned reinsured subsidiaries: TM Casualty Insurance Company, TM Specialty Insurance Company (Phoenix, AZ) and Trans Pacific Insurance Company. Additionally, A.M. Best has affirmed the FSR of A (Excellent) and ICR of “a” of TNUS Insurance Company (TNUS). The outlook for all ratings is stable. All companies are domiciled in New York, NY, unless otherwise specified. The ratings of the US Group reflect the status of the U.S. Branch of TMNF and the critical role it plays as part of TMNF's global strategy. The primary focus of the US Group’s strategy is to support the insurance needs of TMNF’s clients that are doing business in the United States. The ratings also reflect the strong risk-adjusted capitalization and excellent overall earnings of the US Group. The ratings for TNUS recognize its low underwriting leverage and the extensive support provided by TMNF, which is offset by its transitioning business profile. Management plans to use TNUS as a deviation vehicle for multi-tier filing. For Best’s Credit Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. The principal methodologies used in determining these ratings, including any additional methodologies and factors that may have been considered, can be found at www.ambest.com/ratings/methodology. Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.
A.M. Best Co.
Analysts:
Duncan McColl, 908-439-2200, ext. 5826
duncan.mccoll@ambest.com
or
Joseph Roethel, 908-439-2200, ext. 5630
joseph.roethel@ambest.com
or
Public Relations:
Jim Peavy, 908-439-2200, ext. 5644
james.peavy@ambest.com
or
Rachelle Morrow, 908-439-2200, ext. 5378
rachelle.morrow@ambest.com
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