A.M. Best Affirms Ratings of Sompo Japan Insurance Company of America and Sompo Japan Fire and Marine Insurance Company of America Business Wire OLDWICK, N.J. -- July 11, 2013 A.M. Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) and the issuer credit ratings (ICR) of “aa-” of Sompo Japan Insurance Company of America (SJA) and its reinsured subsidiary, Sompo Japan Fire and Marine Insurance Company of America (SJFM) (both domiciled in New York, NY). The outlook for all ratings is stable. Both companies are subsidiaries of Sompo Japan Insurance Inc. (Sompo Japan) and are ultimately owned by NKSJ Holdings Inc. (NKSJ). The ratings of SJA and SJFM largely reflect SJA’s strong risk-adjusted capitalization, both companies’ strategic roles and importance as U.S. domestic insurers within NKSJ and the benefits of the explicit support provided through reinsurance and contributed capital by Sompo Japan, as well as the implied support from NKSJ. SJFM’s ratings also reflect the 100% quota share reinsurance provided by SJA to SJFM since October 2008. SJA’s primary mission is to provide various commercial property/casualty coverages to Sompo Japan’s clients operating in the United States. SJFM provides workers’ compensation coverage to clients of Sompo Japan operating in the United States. Given the extent of implied and explicit support embedded in these ratings, any upward or downward movement on the ratings of Sompo Japan would likely influence the ratings of SJA and SJFM. Any material changes to the financial condition of NKSJ and/or its commitment in the United States also could cause SJA and SJFM’s ratings to move. In addition, if SJA’s capitalization or operating performance falls markedly short of A.M. Best’s expectations, negative rating actions could ensue. The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology. A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com. Copyright © 2013 by A.M. Best Company, Inc. ALL RIGHTS RESERVED. Contact: A.M. Best Co. Richelle Bryan, 908-439-2200, ext. 5344 Financial Analyst email@example.com or Joseph Roethel, 908-439-2200, ext. 5630 Assistant Vice President firstname.lastname@example.org or Rachelle Morrow, 908-439-2200, ext. 5378 Senior Manager, Public Relations email@example.com or Jim Peavy, 908-439-2200, ext. 5644 Assistant Vice President, Public Relations firstname.lastname@example.org
A.M. Best Affirms Ratings of Sompo Japan Insurance Company of America and Sompo Japan Fire and Marine Insurance Company of
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