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Summary: Tokio Marine Retakaful Pte. Ltd. Dec 11
Standard & Poors, Dec 2011
Abstract
The rating on Singapore-based Tokio Marine Retakaful Pte. Ltd. (TMRt) reflects the unconditional guarantee of policy obligations provided to the entity by Japan-based Tokio Marine & Nichido Fire Insurance Co. Ltd. (Tokio Marine Nichido; AA-/Negative/A-1+), part of Tokio Marine Group. TMRt's immediate holding company is Tokio Marine Asia Pte. Ltd. (TMAsia; NR), based in Singapore. Both Tokio Marine Nichido and TMAsia are wholly owned subsidiaries of Japan's Tokio Marine Holdings Inc. (NR). This explicit support agreement meets the guarantee criteria of Standard & Poor's Ratings Services. Standard & Poor's expects Tokio Marine Nichido to ensure that claims made by TMRt policyholders are paid, and as a consequence, the rating on TMRt will move in tandem with those on Tokio Marine...
Companies mentioned in this report are: Tokio Marine Retakaful Pte. 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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