A.M. Best Withdraws Ratings of The Fuji Fire & Marine Insurance Company, Limited and AIU Insurance Company, Ltd.
September 04 2015 - 12:15PM
Business Wire
A.M. Best has affirmed the financial strength rating of A
(Excellent) and the issuer credit ratings of “a” of The Fuji
Fire & Marine Insurance Company, Limited (Fuji Fire)
(Japan) and AIU Insurance Company, Ltd. (AIU Japan) (Japan).
The ultimate parent company of both companies is American
International Group, Inc. (AIG) (New York, NY) [NYSE: AIG]. The
outlook for all ratings is stable.
Concurrently, A.M. Best has withdrawn the ratings in response to
the companies’ request to no longer participate in A.M. Best’s
interactive rating process.
Fuji Fire’s and AIU Japan’s ratings consider a wide range of
support from their parent company, AIG Japan Holdings KK, which is
ultimately owned by AIG. Fuji Fire and AIU Japan are scheduled to
merge in 2016, pending regulatory approvals, and are on course to
integrate the two operations.
The rating reflects AIU Japan’s robust risk-adjusted
capitalization, improved operating performance and a strong
business profile that is supported by its distinct market position
to provide accident and health insurance products in Japan. Fuji
Fire’s risk-adjusted capitalization remained adequate to support
the current ratings and recovery in profitability led by the
comprehensive restructure in its operation.
This press release relates to rating(s) that have been
published on A.M. Best's website. For all rating information
relating to the release and pertinent disclosures, including
details of the office responsible for issuing each of the
individual ratings referenced in this release, please visit A.M.
Best’s Ratings & Criteria Center.
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 © 2015 by A.M. Best Company,
Inc. ALL RIGHTS RESERVED.
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version on businesswire.com: http://www.businesswire.com/news/home/20150904005627/en/
A.M. Best Company, Inc.Seewon Oh,
+852-2827-3404Associate Director,
Analyticsseewon.oh@ambest.comorMoungmo Lee,
+65-6589-8412Managing Director,
Analyticsmoungmo.lee@ambest.comorChristopher Sharkey, +(1)
908-439-2200, ext. 5159Manager, Public
Relationschristopher.sharkey@ambest.comorJim Peavy,
+(1) 908-439-2200, ext. 5644Assistant Vice President,
Public Relationsjames.peavy@ambest.com
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