A.M. Best Downgrades Rating of Tokio Millennium Re Ltd. and Revises Outlook to Stable; Assigns Issuer Credit Rating.OLDWICK, N.J. -- A.M. Best Co. has downgraded the financial strength rating (FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current applications. Every open window takes some space in this area. See Windows memory limitation. ) of Tokio Millennium Re Ltd. (TMR TMR total mixed ration. TMR 1 Trainable mentally retarded 2 Transmyocardial revascularization, see there ) (Bermuda) to A+ (Superior) from A++ (Superior) and revised the outlook to stable from negative. At the same time, A.M. Best has assigned an issuer credit rating (ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. ) of "aa-" with a stable outlook to TMR. The downgrade of TMR's rating is based on revised application of insurance group methodology. (See Rating Members of Insurance Groups at http://www.ambest.com/ratings/membergroups.pdf.) The ratings reflect TMR's strategic importance to TMNF TMNF Trackmania Nations Forever TMNF Tokio Marine Nichido Fire TMNF Tree-Marking Normal Form TMNF Telecommunication Management Network Forum TMNF Trackmania Nations Finland , its very strong capital position, good operating performance and established niche market A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. position. The company's stand-alone risk-adjusted capital position is supported by conservative underwriting practices, investment strategies and risk management techniques. Offsetting factors are the increasingly competitive 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. pricing environment and the volatile nature of the catastrophe reinsurance business. The stable outlook on both ratings reflects TMR's position within the A+ (Superior) category, which includes strategic lift from the parent. For more information on A.M. Best's ratings and the treatment of debt, please visit http://www.ambest.com/debt/debtmethod.pdf. For Best's Ratings, an overview of the rating process and rating methodologies, please visit http://www.ambest.com/ratings. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at http://www.ambest.com. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion