AM Best [4] confirms the "A+" financial strength and "aa-" long-term credit ratings of Tokio Marine Pacific Insurance (TMPI), based in Guam (USA).
The outlook for both ratings has been changed from negative to stable.
The rating reflects the financial strength of TMPI's balance sheet, adequate operating performance, neutral business profile and appropriate enterprise risk management.
The rating agency [5] also commends the support TMPI has received from its parent company, Tokio Marine & Nichido Fire Insurance (Japan).
The upward revision of the outlook follows the company's various initiatives to strengthen its fundamentals in recent years, including diversification of the accident and health (A&H) portfolio, stricter underwriting, and rate discipline in the A&H and property and casualty activities.