Fitch downgrades outlook for four Japanese insurers

The rating agency Fitch has downgraded the outlook for four of the five Japanese insurers for which it has been issuing ratings. Mitsui Sumitomo, Aioi Nissay Dowa, Sompo Japan and Nipponkoa have seen their outlook decline from stable to negative. According to the agency’s analysts, these insurers may be facing larger claims than expected.
Most insurers in the country have not so far released any estimates for the losses caused by the earthquake and tsunami. The agency has maintained its AA- rating with stable outlook for Tokio Marine & Nichido Fire Insurance, highlighting its excellent level of capitalization.