A.M. Best has given a financial strength rating of “A++” (Superior) and issuer credit rating of “aa+” of Tokio Millennium Re (TMR).
TMR is a wholly owned subsidiary of Tokio Marine & Nichido Fire Insurance Co. (TMNF), which is the main trading subsidiary of Tokio Marine Holdings. Both companies are domiciled in Tokyo, Japan.
The ratings reflect TMR’s “superior financial strength, favourable operating performance over the last several years and its prudent risk management practices”, said a statement from the ratings firm.
TMR’s ratings are also enhanced by support provided by TMNF and its strategic importance to Tokio Marine Group’s initiatives to geographically diversify its catastrophe risks.
Partially offsetting these positive ratings is TMR’s exposure to low frequency, high severity catastrophic events.
