S&P affirms Tokio Marine

Standard & Poor's said it affirmed its global AA and national-scale mxAAA financial strength ratings on Tokio Marine Compañía de Seguros SA de CV.

The outlook is stable.

The agency said that the rating reflects the unconditional guarantee of policy obligations provided by Tokio Marine & Nichido Fire Insurance Co. Ltd., (AA/stable) to Tokio Marine, which is part of the Millea Group.

S&P noted that this explicit support agreement meets its guarantee criteria, adding that it expects Tokio Marine Nichido to ensure Tokio Marine's policyholders' claims are paid and as a result, the rating on Tokio Marine will move in tandem with that of Tokio Marine Nichido.

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