‘A’ ratings affirmed for Nissan Global Reinsurance
A.M. Best has given a financial strength rating of “A- (Excellent)” and issuer credit rating of “a-” to Nissan Global Reinsurance (NGRe), a single parent captive of car manufacturer Nissan.
The company’s positive ratings reflect strong capitalisation and conservative operating strategy.
“Partially offsetting these positive rating factors are the significant exposures NGRe has to product liability, property and marine cargo claims. Additionally, the recent deterioration in the financial markets and the decline in the profitability of automakers has had some impact on premium volumes,” said a statement from A.M. Best.