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.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.