AM Best confirms Nippon Life Insurance rating

AM Best has affirmed Nippon Life Insurance's financial strength rating of A+ and long-term credit rating of aa-. The outlook for both ratings is stable.

The rating agency based its decision on the low financial leverage of the life company with an adjusted debt-to-equity ratio of less than 25%. AM Best believes that Nippon Life has a strong business network and a good reputation in Japan and abroad.

The rating also reflects the strength of the life insurer's balance sheet, adequate operating performance, favorable business profile, and appropriate enterprise risk management.