HONG KONG--(BUSINESS WIRE)--A.M. Best has affirmed the financial strength rating of A (Excellent) and the issuer credit ratings of “a” of The Fuji Fire & Marine Insurance Company, Limited (Fuji Fire) (Japan) and AIU Insurance Company, Ltd. (AIU Japan) (Japan). The ultimate parent company of both companies is American International Group, Inc. (AIG) (New York, NY) (NYSE:AIG). The outlook for all ratings is stable.
Concurrently, A.M. Best has withdrawn the ratings in response to the companies’ request to no longer participate in A.M. Best’s interactive rating process.
Fuji Fire’s and AIU Japan’s ratings consider a wide range of support from their parent company, AIG Japan Holdings KK, which is ultimately owned by AIG. Fuji Fire and AIU Japan are scheduled to merge in 2016, pending regulatory approvals, and are on course to integrate the two operations.
The rating reflects AIU Japan’s robust risk-adjusted capitalization, improved operating performance and a strong business profile that is supported by its distinct market position to provide accident and health insurance products in Japan. Fuji Fire’s risk-adjusted capitalization remained adequate to support the current ratings and recovery in profitability led by the comprehensive restructure in its operation.
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