KUALA LUMPUR, Sept 3 -- AM Best has affirmed the Financial Strength Rating of A (excellent) and the Long-Term Issuer Credit Ratings of ‘a+’ of The Toa Reinsurance Company Limited (Toa Re), Japan.
Also affirmed are Toa Re subsidiaries, The Toa Reinsurance Company of America (TRA) (headquartered in Morristown, NJ) and The Toa 21st Century Reinsurance Company Ltd (TRE), Switzerland.
The stable outlook of these credit ratings reflects Toa Re’s balance sheet strength, which AM Best categorised as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management, according to a statement.
Toa Re’s strongest balance sheet strength is underpinned by risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio, attributed to conservative risk management in its underwriting and investment strategies.
Despite an active natural catastrophe year in 2018, Toa Re’s capitalisation and catastrophe reserve positions were not impacted materially by these events, due to its conservative catastrophe risk management and prudent reinsurance strategy.
The activation of TRE in 2018 as Toa Re’s major European underwriting platform allowed Toa Re to further expand its footprint in European markets.
AM Best is a global rating agency and information provider with a unique focus on the insurance industry. More information at www.ambest.com.
-- BERNAMA
-- BERNAMA
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