S&P Global Ratings on May 4 affirmed 's global scale financial strength rating at A+ and its nationalscale financial strength and issuer credit ratings at mxAAA.
The outlook on all the ratings remains stable.
The company's financial strength ratings are based on theirrevocable and unconditional guarantee that Tokio Marine & Nichido Fire Insurance Co. Ltd.provides in favor of the firm's policyholders. The issuer credit rating onTokio Marine Compania de Seguros reflects S&P's view that it is a highlystrategic unit for ultimate parent Tokio Marine Holdings Inc.
Additionally, the rating agency believes there is a closelink between Tokio Marine Compania de Seguros and the group's reputation, andthe subsidiary also benefits from the parent's brand recognition. Tokio Marine& Nichido Fire Insurance provides sufficient reinsurance capacity to TokioMarine Compania de Seguros for its non-Japan retention business in Mexico,S&P noted.
In light of these factors, the global scale ratings on TokioMarine Compania de Seguros will move in tandem with that of the parent, therating agency added.
S&P Ratings andGlobal Market Intelligence are owned by S&P Global Inc.