Best’s News & Research Service - April 27, 2023 04:19 PM (EDT)
AM Best Affirms Credit Ratings of Tokio Marine GRV Re, Inc.
- April 27, 2023 04:19 PM (EDT)
Oldwick //BestWire// - AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Tokio Marine GRV Re, Inc. (TMGRV Re) (Oklahoma City, OK). The outlook of these Credit Ratings (ratings) is stable.
The ratings of TMGRV Re’s reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and very strong enterprise risk management (ERM).
The company serves as an internal reinsurer for the affiliated entities under the Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF) umbrella, and benefits from the group’s strong global presence. The ratings also benefit from the explicit support provided to TMGRV Re through a capital maintenance agreement with TMNF, and implicit support provided by affiliated entities that includes the day-to-day management of operations and execution of TMNF’s robust ERM program.
This press release relates to Credit Ratings that have been published on AM 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 AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.