S&P shifts Tokio Marine view to stable

S&P said it revised the outlooks for members of the Tokio Marine group to stable from positive and maintained the stable outlook on the Sompo Holdings group members. S&P affirmed all the companies’ ratings.

“In light of uncertainty around financial volatility brought about by the Covid-19 pandemic, we have revised down the outlooks on the ratings on Tokio Marine group's subsidiaries to stable from positive. We now see more downside risk for the group's capital and earnings. This uncertainty has in turn lowered the likelihood that we will upgrade the entities, even if we raise our sovereign credit rating on Japan,” S&P said in a press release.

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