Research Update: Tokio Marine Group's Core Subsidiaries Affirmed At 'AA-' After Insurance Criteria Change; Outlooks Negative May 13
- Language: English
- Published: May 2013
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Standard & Poor's Ratings Services has revised its outlook on Japan to negative from stable. As a result, we have revised our outlooks on four of the overseas subsidiaries of Tokio Marine & Nichido Fire Insurance Co. Ltd. to negative from stable. The ratings on these subsidiaries are constrained by the long-term sovereign rating on their parent company, as their business franchises and assets are highly concentrated in Japan. We have also affirmed the ratings on these companies. NEW YORK (Standard & Poor's) April 27, 2011--Standard & Poor's Ratings Services said today that it revised its outlook on four of the overseas insurance subsidiaries of Japan-based Tokio Marine & Nichido Fire Insurance Co. Ltd. (TMNF) to negative from stable. The...
Companies mentioned in this report are: Tokio Millennium Re Ltd.,Philadelphia Indemnity Insurance Co.,Philadelphia Insurance Co.,Tokio Marine Financial Solutions Ltd.,Tokio Marine & Nichido Fire Insurance Co. Ltd.
Action: Outlook: Negative
Action: On CreditWatch:Negative
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Tokio Millennium Re Ltd.,Philadelphia Indemnity Insurance Co.,Philadelphia Insurance Co.,Tokio Marine Financial Solutions Ltd.,Tokio Marine & Nichido Fire Insurance Co. Ltd.