Moody’s affirms Sompo Japan bonds

Moody's Investors Service said it affirmed the A3(hyb) subordinated bond rating of Sompo Japan Nipponkoa Insurance Inc., the main operating subsidiaries of Sompo Holdings, Inc.

The outlook remains stable.

The agency said the affirmation reflects the company’s very strong market position and brand, strong capitalization, and low product risk, especially in its domestic portfolio.

These strengths are partially offset by the insurer's exposure to gross natural catastrophe risk, although this factor is mitigated by the reinsurance arrangements it has in place, Moody’s said.

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