S&P assigns A to Tokio Marine (Thailand)

S&P said it assigned an A long-term local-currency financial strength and issuer credit ratings to Tokio Marine Safety Insurance (Thailand) Public Co. Ltd. S&P withdrew its A long-term local-currency financial strength and issuer credit rating on Tokio Marine Insurance (Thailand) Public Co. Ltd. Tokio Marine Insurance merged with Safety Insurance Public Co. Ltd.

The rating on Tokio Marine Safety reflects S&P’s assessment the company is a highly strategic subsidiary of the Tokio Marine Group. “We believe the group is highly unlikely to sell its interest in TMSTH. The insurer is also highly likely to receive support from the group in the event that the sovereign defaults,” said S&P in a press release.

The outlook is positive.

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