KUALA LUMPUR, Jan 25 (Bernama) -- AM Best has affirmed the Financial Strength Rating of A+ (superior) and the Long-Term Issuer Credit Rating of ‘aa-’ of The Dai-ichi Life Insurance Company, Ltd (DL) of Japan.
The outlook of these credit ratings is stable, and the ratings reflect DL’s balance sheet strength – which AM Best categorised as very strong – as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
It also reflects AM Best’s expectation that DL will maintain strong and consistent operating performance, supported by an in-force book that is expected to generate favorable returns on embedded value and a stable economic solvency ratio over the medium and long term.
DL’s balance sheet strength is due in part to its risk-adjusted capitalisation being at the strongest level, as measured by Best’s Capital Adequacy Ratio.
In addition, financial leverage ratios at its holding company remain conservative, with adjusted debt leverage ratios generally under 25 per cent on a consolidated basis, a statement said.
DL is a wholly-owned subsidiary of Dai-ichi Life Holdings Inc, which is one of Japan’s largest life insurance groups in terms of premium income.
AM Best is a global rating agency and information provider with a unique focus on the insurance industry. More details at www.ambest.com.
-- BERNAMA
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