MS Frontier Re Assigned 'AA-' Fincl Strength Rtg.Business Editors TOKYO--(BUSINESS WIRE)--Standard & Poor's Aug. 6, 2002--Standard & Poor's Ratings Services said today that it had assigned its 'AA-' insurer financial strength rating to MS Frontier Reinsurance MS Frontier Reinsurance Ltd. is an insurance company based in Hamilton, Bermuda. It is a subsidiary of the Mitsui Sumitomo Insurance Group of Japan. Ltd. (MSFR MSFR Minimum Security Function Requirements MSFR Mid Spatial Frequency Roughness ), based on its superior capitalization, its strategic importance to its parent, Mitsui Sumitomo Insurance Co. Ltd. (MSI MSI: see integrated circuit. (1) (MicroSoft Installer) See Windows Installer. (2) (Medium Scale Integration) Between 100 and 3,000 transistors on a chip. See SSI, LSI, VLSI and ULSI. ; AA-/Negative/A-1+), and the explicit support it receives from MSI. As part of the MSI group's strategy of expanding its overseas inward 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. business to take advantage of the recent hardening of premiums in the reinsurance market, MSI has repositioned MSFR as a catastrophic risk reinsurer re·in·sure tr.v. re·in·sured, re·in·sur·ing, re·in·sures To insure again, especially by transferring all or part of the risk in a contract to a new contract with another insurance company. and boosted the subsidiary's capital to US$100 million from US$10 million. "MSFR will focus on high-layer catastrophic risks in Asia, Europe, and the Americas, and is expected to benefit from a recent increase in reinsurance premiums," said Mr. Tatsuo Kurogi, a credit analyst at Standard & Poor's in Tokyo. MSFR will also assume the role of the group's catastrophic risk retention vehicle to more efficiently manage the global MSI group's exposure. MSFR was originally established under the name of MM Reinsurance Ltd. in Bermuda in 1997. Copyright 2002, Standard & Poor's Ratings Services |
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