Best’s News & Research Service - August 19, 2016 12:13 PM (EDT)
A.M. Best Affirms Ratings of Tokio Marine America Insurance Company and Its Subsidiaries
- August 19, 2016 12:13 PM (EDT)
Oldwick //BestWire// - A.M. Best has affirmed the financial strength rating of A++ (Superior) and the issuer credit ratings of “aa+” of Tokio Marine America Insurance Company (TMAIC) and its subsidiaries. TMAIC has separate 100% quota share agreements with the affiliates: Trans Pacific Insurance Company, TM Specialty Insurance Company (Phoenix, AZ) and TNUS Insurance Company. The outlook for each rating is stable. All companies are domiciled in New York, NY, unless otherwise specified.
TMAIC is a wholly owned subsidiary of Tokio Marine North America Inc., which is an insurance holding company subsidiary of Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF), a subsidiary of Tokio Marine Holdings, Inc. (TMHD).
The ratings for TMAIC and its subsidiaries reflect their strong capital position, favorable overall operating performance and well-defined business profile. These companies serve a critical role in TMNF’s worldwide strategy. The primary focus of these subsidiaries is to support the needs of TMNF’s clients that have operations in the United States.
The ratings of TMAIC are directly related to the ratings of TMNF; therefore, any upward or downward movement in the ratings of TMNF would affect the ratings of TMAIC. Also, any material change in the financial condition of TMNF or its commitment to the market in the United States could impact the ratings of TMAIC. Separately, the ratings may be negatively impacted if TMAIC’s capitalization or operating performance falls markedly short of expectations.
This press release relates to rating(s) that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page.
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