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Article: A.M. Best Affirms Ratings of Sompo Japan Insurance Inc.; Upgrades Ratings of Sompo Japan Insurance Company of America.
- Article from:
- Business Wire
- Article date:
- December 17, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) and the issuer credit rating (ICR) of "aa-" of Sompo Japan Insurance Inc. (Sompo Japan) (Japan). The outlook for the ICR has been revised to stable from positive, and the outlook for the FSR remains stable.
The ratings reflect Sompo Japan's strong market presence, efficient distribution channels and diversified profit base. The change in outlook reflects the deterioration in capitalization in fiscal years 2007 and 2008.
Sompo Japan is one of the leading non-life insurance companies in Japan. As of fiscal year 2007, total assets were JPY 5.4 trillion (USD 54 ...