HONG KONG, Aug 22 (Bernama-BUSINESS WIRE) -- A.M. Best has affirmed the financial strength rating (FSR) of A++ (Superior) and the issuer credit rating (ICR) of “aa+” of Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF) (Japan). A.M. Best also has affirmed the FSR of A+ (Superior) and the ICR of “aa-” of TMNF’s subsidiary, Tokio Marine Pacific Insurance Limited (TMPI) (Guam). The outlook for each of these ratings remains stable.
The rating affirmations reflect TMNF’s strong risk-adjusted capitalization, track record of favorable operating performance and strong business profile. TMNF’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), remained strong to support the company’s current rating despite the decrease over the past year mainly due to the sizeable increase in goodwill related to the acquisition of HCC Insurance Holdings, Inc. (HCC) (U.S.), in 2015.
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