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Summary: Tokio Marine & Fire Insurance Co. (Hong Kong) Ltd. Sep 11
Standard & Poors, Sep 2011
Abstract
The ratings on Tokio Marine & Fire Insurance Co. (Hong Kong) Ltd. (TMHK) reflect the company's strategic importance to its parent. The ratings also reflect the company's strong capitalization, conservative and liquid investment profile, and favorable underwriting performances. TMHK's small market presence in Hong Kong's competitive general insurance market partly offsets these strengths. In our view, TMHK plays a strategically important role for its parent group, Tokio Marine Holdings Inc., in meeting its clients' global insurance needs and Asian expansion strategy. Tokio Marine's core operating company is Tokio Marine & Nichido Fire Insurance Co. Ltd. (local currency AA-/Negative/A-1+). TMHK's operations are highly integrated with those of its parent and the regional operations in Singapore. The company benefits from the wider...
Companies mentioned in this report are: Tokio Marine & Fire Insurance Co. (Hong Kong) 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.
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