A.M. Best Affirms Credit Ratings of Nippon Life Insurance Company and Its Subsidiary
The ratings reflect Nissay’s balance sheet strength, which
The company’s level of balance sheet strength is underpinned by a risk-adjusted capitalization that
Nissay reports a stable trend in premium income in terms of annualized premium equivalent, with growth in new sales over the past five years resulting from the company’s effort to shift toward the sale of protection-type products that offer a stable mortality margin. The company reports a moderate level of volatility in its operating results, which are susceptible to financial market conditions.
While Nissay maintained a market share of 18% – the largest among its peers and one which has remained stable over the long term – its geographic diversification remains modest given the relatively small size of the international operations.
Nissay is well-positioned at its current rating level. Negative rating actions could occur if there is material deterioration in risk-adjusted capitalization caused by substantial investment losses, or sustained deterioration in its operating performance.
The ratings of NLB reflect its balance sheet strength, which
The affirmation of NLB’s ratings considers the financial and operational support received from its parent company (Nissay) and NLB’s strategic importance to the parent, risk-adjusted capitalization being at the strongest level, and its evolving business diversification strategy. The company continues to maintain an established market position in the Asian markets within
However,
Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.
This press release relates to Credit Ratings 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 see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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Seewon Oh, +852 2827 3404
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