Japan-Based Secom General Upgraded To 'A' On Improved Capital; Outlook Stable

Secom General has strengthened its capital base through accumulation of retained earnings. We have raised to 'A' from 'A-' our financial strength rating and long-term issuer credit rating on Secom General. The outlook is stable, based on our expectation that the company will maintain capital at a healthy level underpinned by stable profit contributions from its MEDCOM business. TOKYO (S&P Global Ratings) June 29, 2022--S&P Global Ratings today said it raised to 'A' from 'A-' its financial strength rating and long-term issuer credit rating on Secom General Insurance Co. The outlook is stable. The upgrades reflect our expectation that Secom General will maintain improvement of its capital level through accumulation of retained earnings. Secom General's MEDCOM business, which is a

...June 29, 2022 - Secom General has strengthened its capital base through accumulation of retained earnings. - We have raised to 'A' from 'A-' our financial strength rating and long-term issuer credit rating on Secom General. - The outlook is stable, based on our expectation that the company will maintain capital at a healthy level underpinned by stable profit contributions from its MEDCOM business. TOKYO (S&P Global Ratings) June 29, 2022--S&P Global Ratings today said it raised to 'A' from 'A-' its financial strength rating and long-term issuer credit rating on Secom General Insurance Co. The outlook is stable. The upgrades reflect our expectation that Secom General will maintain improvement of its capital level through accumulation of retained earnings. Secom General's MEDCOM business, which is a cancer insurance, maintains high profitability. In addition, profit growth for the business is stable. During the past two years, the insurer has accumulated large amounts of catastrophe reserves,...

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