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S&P affirms, withdraws rating on Tokio Marine Global Re Asia

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S&P affirms, withdraws rating on Tokio Marine Global Re Asia

Standard & Poor's Ratings Services said March 31 that itaffirmed and subsequently withdrew its A+ financial strength rating onMalaysia-based Tokio Marine Global Re Asia Ltd., as per the company's request.

S&P said the rating reflects Japan-based 's guarantee for the reinsurer. The outlook on the rating wasstable prior to the withdrawal.

Tokio Marine Global was a reinsurance provider for the Asiansubsidiaries of Tokio Marine Group. The company had been in run-off sinceJanuary 2015 and its remaining businesses are being transferred to anothergroup subsidiary, S&P said.

S&P Ratings andGlobal Market Intelligence are owned by McGraw Hill Financial Inc.