S&P rates Tokio AA

Standard & Poor's said it assigned its AA insurer financial strength rating to Tokio Marine Retakaful Pte. Ltd., reflecting the guarantee provided by Tokio Marine & Nichido Fire Insurance Co. Ltd. (AA/stable/A-1+) to pay Tokio's insurance claims-related obligations.

The outlook is stable.

The guarantee provided by Tokio Marine meets S&P's guarantee criteria and therefore it said it expects Tokio Marine to ensure that all valid claims made by Tokio policyholders will be honored.

According to S&P, the rating on Tokio also reflects the company's satisfactory capitalization relative to its currently assumed risks, as well as a prudently managed investment portfolio with high liquidity.

S&P said it expects Tokio to maintain its adequate capitalization level based on a firm commitment from the Millea group.

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