OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has affirmed the financial strength rating (FSR) of A++ (Superior) and issuer credit ratings of “aa+” of Tokio Marine America Insurance Company (TMAIC) and its affiliates. TMAIC has separate 100% quota share agreements with Trans Pacific Insurance Company (TPI), TM Specialty Insurance Company (TMS) (Phoenix, AZ) and TNUS Insurance Company (TNUS). The outlook for all ratings is stable. All companies are domiciled in New York, NY, unless otherwise specified.
All companies are wholly owned subsidiaries of Tokio Marine North America Inc., which is an insurance holding company subsidiary of Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF), a subsidiary of Tokio Marine Holdings, Inc. (TMHD) (both domiciled in Tokyo, Japan).
The ratings for TMAIC and its affiliates reflect the status and critical role all have as part of TMNF’s global strategy. The primary strategic focus of TMAIC and its affiliates is to support the insurance needs of TMNF’s clients, which conduct business in the United States. The ratings also reflect the strong risk-adjusted capitalization and excellent overall earnings of TMAIC.
The ratings of TMAIC are a direct extension of the ratings of TMNF; as such, any upward or downward movement on the ratings of TMNF would affect the ratings of TMAIC. Negative rating actions for the TMAIC affiliates could occur if the reinsurance support provided by TMAIC was reduced or terminated.
The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
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