Japan's Secom General Insurance 'A-' Ratings Removed From CreditWatch Negative And Affirmed; Outlook Stable

We believe Japan-based insurer Secom General has maintained capital adequacy at a level commensurate with our current assessment of its creditworthiness, despite large natural disasters in fiscal 2018 hurting the insurer's capital, after conducting analysis on the impact on the insurer's capital and its financial strategy. We are affirming our 'A-' financial strength and issuer credit ratings on Secom General and removing them from CreditWatch with negative implications. The outlook is stable, based on our views that the insurer will gradually accumulate retained earnings through the growth of its high-profitable MEDCOM business and that there will be fewer natural disasters. TOKYO (S&P Global Ratings) June 25, 2019--S&P Global Ratings today said it has removed from CreditWatch with negative implications and

...+ We believe Japan-based insurer Secom General has maintained capital adequacy at a level commensurate with our current assessment of its creditworthiness, despite large natural disasters in fiscal 2018 hurting the insurer's capital, after conducting analysis on the impact on the insurer's capital and its financial strategy. + We are affirming our 'A-' financial strength and issuer credit ratings on Secom General and removing them from CreditWatch with negative implications. + The outlook is stable, based on our views that the insurer will gradually accumulate retained earnings through the growth of its high-profitable MEDCOM business and that there will be fewer natural disasters. TOKYO (S&P Global Ratings) June 25, 2019--S&P Global Ratings today said it has removed from CreditWatch with negative implications and affirmed its 'A-' long-term financial strength and issuer credit ratings on Japan-based Secom General Insurance Co. Ltd. (Secom General). The outlook on the ratings is stable....

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