Summary: Tokio Marine Compa??a de Seguros S.A. de C.V. Jun 11

Standard & Poors, June 2011

Abstract
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.
Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Tokio Marine Compania de Seguros, S.A. de C.V. ,Tokio Marine & Nichido Fire Insurance Co. Ltd.

Customers who bought this item also bought

• Analyzing the Global Aerospace and Defense Industry
• The Global Submarine Market 2011-2021 - Competitive Landscape and Strategic Insights: Market Profile
• Aerospace and Defense Industry - Global Strategic Business Report
• Defense Spending - Top 5 Emerging Markets Industry Guide
• International Military and Civilian Unmanned Aerial Vehicle Survey
• Defense Spending in Mexico
• Aerospace and Defence Industry - Global Strategic Business Report
• The Mexico Defense Industry - Competitive Landscape and Strategic Insights to 2016: Market Profile
• The Mexican Defense Industry - Competitive Landscape and Strategic Insights to 2017: Market Profile
• Mexico Defence and Security Report Q1 2013