HONG KONG, June 10 (Bernama-BUSINESS WIRE) -- A.M. Best has affirmed the financial strength rating of A+ (Superior) and the issuer credit ratings of “aa-” of The Toa Reinsurance Company, Limited (Toa Re) (Japan) and its subsidiary, The Toa Reinsurance Company of America (TRA) (headquartered in Morristown, NJ). The outlook for each rating is stable.
The ratings reflect Toa Re’s robust risk-adjusted capitalization and strong business profile in Japan. Toa Re maintains a robust level of capitalization owing to conservative risk management in its underwriting and investment practices. Toa Re has enhanced its enterprise risk management over the past five years. Additionally, the company has expanded its life and health reinsurance segments over the past five years and has reduced its exposure to catastrophe risks in order to achieve stable profitability. Also, Toa Re tightly controlled risk exposure in investment assets during the same period, particularly in stocks. As a sole domestic reinsurance company, Toa Re has a strong relationship with the major cedants in Japan, which are its major shareholders, enabling the company to maintain a stable market share in the domestic market.
No comments:
Post a Comment