A.M. Best has affirmed the financial strength rating of “A- (Excellent)” and issuer credit rating of “a-” of Nissan Global Reinsurance (NGRe), based in Hamilton, Bermuda. NGRe is a single parent captive of Nissan Motor Company.
The ratings reflect NGRe’s strong capitalisation and conservative operating strategy. The ratings also consider the company’s role and favourable profile as part of Nissan.
“Partially offsetting these positive rating factors are the significant exposures NGRe has to product liability, property and marine cargo claims,” said A.M. Best.
According to A.M. Best, NGRe’s ratings are not expected to be upgraded. Its outlook also isn’t expected to be revised within the next 12-24 months.
