Fitch upbeat about Tokio Marine

Credit rating agency Fitch has strengthened the outlook for Tokio Marine & Nichido Fire Insurance Co. (TMFN) to stable from negative and confirmed the company’s Insurer Financial Strength (IFS) rating at AA-.

Fitch noted that Tokio Marine Group, of which TMNF is a core company, had growing international insurance businesses which were globally well diversified.

Teruki Morinaga, director in Fitch's Asia Pacific Insurance Ratings team commented: "Today's rating action reflects the partial uncoupling of TMNF's rating from the Japanese sovereign rating due to its increasingly diversified global business portfolio."

Fitch acknowledged that the IFS rating of TMNF, as a core company of the group, will