OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Rating of “a” of Tokio Marine GRV Re, Inc. (TMGRV Re) (Oklahoma City, OK). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect TMGRV Re’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, limited business profile and very strong enterprise risk management (ERM).
The ratings also reflect the capacity available in TMGRV Re’s balance sheet for the expected level of assumed risk and a clearly defined business plan, which contemplates a level of execution risk. The company serves as a reinsurer for affiliated entities with a worldwide presence. The ratings also benefit from the explicit support provided to TMGRV Re through a capital maintenance agreement with Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF) and implicit support provided by affiliated entities, including day-to-day management of operations, and inclusion in TMNF’s robust ERM processes and procedures.
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