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

Standard & Poors, December 2011

Abstract
Status as a strategically important subsidiary of Tokio Marine & Nichido Fire Insurance Co. Ltd., which provides business and financial support through an unconditional guarantee; Good capitalization and strong financial flexibility; and Conservative investment practices, reflected in a highly liquid portfolio. Strong market competition; and Weak operating performance associated with aggressive growth in the past few years. 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 provided by its parent, Japan-based Tokio Marine & Nichido Fire Insurance Co. Ltd. (TMNF; AA-/Negative/--). The Mexican subsidiary is a wholly owned subsidiary of TMNF, which is part of the Tokio Marine Group. The explicit support agreement meets Standard &...

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

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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.

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