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FOR IMMEDIATE RELEASE
OLDWICK - AUGUST 21, 2015 09:23 AM (EDT)
A.M. Best has affirmed the financial strength rating of A++ (Superior) and the issuer credit rating of "aa+" of Tokio Marine America Insurance Company (TMAIC) and its affiliates. TMAIC has separate 100% quota share agreements with Trans Pacific Insurance Company, TM Specialty Insurance Company (Phoenix, AZ) and TNUS Insurance Company. The outlook for all ratings is stable. All companies are domiciled in New York, NY, unless otherwise specified.
These companies are wholly owned subsidiaries of Tokio Marine North America Inc., which is an insurance holding company subsidiary of Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF), a subsidiary of Tokio Marine Holdings, Inc. (TMHD). TMNF and TMHD are domiciled in Tokyo, Japan.
The ratings for TMAIC and its affiliates reflect their strong risk adjusted capital position and favorable overall earnings. These companies serve a critical role in TMNF's worldwide strategy. The primary focus of these affiliates is to support the needs of TMNF's clients that have operations in the United States.
The ratings of TMAIC are related to the ratings of TMNF; therefore, any upward or downward movement on the ratings of TMNF would affect the ratings of TMAIC. Also, any perceived reduction in the implicit or explicit support provided to TMAIC by TMNF would also influence the rating of TMAIC.
This press release relates to rating(s) that have been published on A.M. Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please visit A.M. Best's Ratings & Criteria Center.
A.M. Best Company is the world's oldest and most authoritative insurance rating and information source.