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Summary: Tokio Marine Compa??a de Seguros S.A. de C.V. Jun 11
Standard & Poors, June 2011
Standard & Poor's Ratings Services' rating on Tokio Marine Compa--a de Seguros S.A. de C.V. (TMX) reflects the unconditional guarantee of policy obligations that its parent, Japan-based Tokio Marine & Nichido Fire Insurance Co. Ltd. (TMNF; AA/Negative/A-1+), provides. The Mexican subsidiary is a wholly owned subsidiary of TMNF, which is part of the Tokio Marine Group. The explicit support agreement meets Standard & Poor's guarantee criteria. We expect TMNF to ensure that TMX's policyholders' claims are paid; as a result, the rating on TMX will move in tandem with that on its parent company. TMX's business growth in the Mexican market slowed during 2010 because of more stringent underwriting policies and its exit from the auto dealer business program. We...
Companies mentioned in this report are: Tokio Marine Compania de Seguros, S.A. de C.V. ,Tokio Marine & Nichido Fire Insurance Co. Ltd.
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Tokio Marine Compania de Seguros, S.A. de C.V. ,Tokio Marine & Nichido Fire Insurance Co. Ltd.