A.M. Best Affirms Ratings of Tokio Millennium Re.OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) and the issuer credit rating of "aa-" for Tokio Millennium Re Limited (TMR TMR total mixed ration. TMR 1 Trainable mentally retarded 2 Transmyocardial revascularization, see there ) (Bermuda). The outlook for both ratings is stable. The ratings reflect TMR's excellent financial strength, overall favorable business performance and management profile. The excellent financial strength takes into consideration the parental support provided by TMR's parent, Tokio Marine and Nichido Fire Insurance Company (TMNF TMNF Trackmania Nations Forever TMNF Tokio Marine Nichido Fire TMNF Tree-Marking Normal Form TMNF Telecommunication Management Network Forum TMNF Trackmania Nations Finland ) and advanced risk management practice. Due to the highly volatile nature of catastrophe risks and the cyclic pricing market in the reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. industry, TMR could experience unfavorable short-run uncertainty. However, in 2006, TMR implemented a new business plan to take the company into its second phase in order to achieve a more stable profile and to reduce volatility. The new approach consists of writing coverage further down into the mid to low property catastrophe layers and to diversify into other lines, such as terrorism, workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. catastrophe and crop/hail business. A.M. Best will monitor TMR's growth and additional catastrophe exposure that may occur as a result of its participation in lower, more loss prone layers. For Best's Ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. , an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industries, including the banking and insurance sectors. For more information, visit www.ambest.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion