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    8750   JP3476480003

DAI-ICHI LIFE HOLDINGS, INC.

(8750)
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Delayed Japan Exchange  -  02:00 2022-08-17 am EDT
2369.00 JPY   +2.33%
08/15Dai-ichi Life to Takeover Life Insurance Company in New Zealand under $644 Million Deal
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08/11Dai-ichi Life Posts 12.5% Jump in FY22 Attributable Net Income
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08/10DAI ICHI LIFE : August 10, 2022 Presentation Material with Speech Text PDF
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AM Best Affirms Credit Ratings of Protective Property & Casualty Insurance Company

05/26/2022 | 04:27am EDT

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of 'a' (Excellent) of Protective Property & Casualty Insurance Company (Protective P&C) (St. Louis, MO).

The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect Protective P&C's balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). The ratings also reflect rating lift from its parent, Protective Life Insurance Company (Protective Life).

Protective P&C's balance sheet strength assessment is supported by the strongest level of risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), good asset quality, adequate balance sheet liquidity and yearly organic surplus growth derived from earnings, which is partially offset by annual dividends to the parent. The balance sheet strength is somewhat diminished by Protective P&C's extensive use of unrated dealer-owned reinsurance arrangements. AM Best considers the company's operating performance to be adequate based on its consistent track record of profitability, with return metrics and underwriting ratios that remain on par with its composite peer group of warranty insurers.

Protective P&C specializes in providing coverage for vehicle service contracts and guaranteed asset protection products for automobiles, marine craft, power sport vehicles and recreational vehicles, sold primarily through franchise dealers and independent agents. The neutral business profile reflects the company's concentration of underwriting risk in the highly competitive auto warranty market, offset by its geographic diversification. The company's ERM is appropriate for its risk profile and is integrated with that of its parent, Protective Life.

Rating enhancement has been afforded to Protective P&C due to the implied support from its higher-rated parent, its integration into the organization and its support of the organization's asset protection strategy.

This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.

(C) 2022 Electronic News Publishing, source ENP Newswire

All news about DAI-ICHI LIFE HOLDINGS, INC.
08/15Dai-ichi Life to Takeover Life Insurance Company in New Zealand under $644 Million Deal
MT
08/11Dai-ichi Life Posts 12.5% Jump in FY22 Attributable Net Income
MT
08/10DAI ICHI LIFE : August 10, 2022 Presentation Material with Speech Text PDF
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08/10DAI ICHI LIFE : August 10, 2022 Presentation Material PDF
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08/10Dai-ichi Life Holdings, Inc. Announces Earnings Guidance for the Fiscal Year Ending Mar..
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08/01DAI ICHI LIFE : Notice Regarding the Status of Repurchase of the Company's Shares
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07/15Fitch Affirms Protective Life's Ratings; Outlook Stable
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Analyst Recommendations on DAI-ICHI LIFE HOLDINGS, INC.
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Financials
Sales 2023 7 661 B 56 598 M 56 598 M
Net income 2023 287 B 2 119 M 2 119 M
Net Debt 2023 870 B 6 430 M 6 430 M
P/E ratio 2023 8,32x
Yield 2023 3,64%
Capitalization 2 427 B 17 933 M 17 933 M
EV / Sales 2023 0,43x
EV / Sales 2024 0,44x
Nbr of Employees 62 260
Free-Float 77,7%
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Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 2 369,00 JPY
Average target price 2 930,83 JPY
Spread / Average Target 23,7%
EPS Revisions
Managers and Directors
Seiji Inagaki President, CEO & Representative Director
Tetsuya Kikuta Chief Financial Officer & Representative Director
Koichiro Watanabe Chairman
Rieko Sato Independent Outside Director
Ungyong Shu Independent Outside Director
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