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    8766   JP3910660004

TOKIO MARINE HOLDINGS, INC.

(8766)
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Delayed Japan Exchange  -  02:00 2022-06-24 am EDT
7896.00 JPY   +0.47%
06/24TOKIO MARINE : Solvency margin ratio on a consolidated basis as of March 31, 2022 (97KB)PDF
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06/23Nikkei 225 Inches Up 0.1% on Strength in Retail, Transportation Sectors
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AM Best Affirms Credit Ratings of Privilege Underwriters Reciprocal Exchange; Downgrades Ratings of PURE Insurance Company

05/06/2022 | 03:59am EDT

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of 'aa-' (Superior) of Privilege Underwriters Reciprocal Exchange (PURE).

At the same time, AM Best has downgraded the FSR to A- (Excellent) from A+ (Superior) and the Long-Term ICR to 'a-' (Excellent) from 'aa-' (Superior) of PURE Insurance Company (PIC). The outlook of these Credit Ratings (ratings) is stable. PURE and PIC are domiciled in Fort Lauderdale, FL.

The ratings of PURE reflect its 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 consider implicit and explicit support provided by the ultimate parent, Tokio Marine Holdings, Inc., its lead insurance operating company, Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF), and the affiliation between the U.S. subsidiaries of TMNF. PURE aligns with TMNF's strategy of expanding its international business through acquisition in developed and emerging markets, in addition to providing diversification of revenues and customer segments. Partially offsetting these positive factors is company's dependence on reinsurance and exposure to catastrophe events.

The ratings of PIC reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, very limited business profile and appropriate ERM. The negative rating actions reflect the fact that PIC is essentially in run-off as a pooling agreement between PURE and PIC was terminated in January 2022. It is AM Best's expectation that TMNF will continue to support PURE as it looks to wind down PIC. The rating actions on PIC have no impact on AM Best's view of PURE's financial strength, as evidenced by the rating affirmations of PURE.

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 TOKIO MARINE HOLDINGS, INC.
06/24TOKIO MARINE : Solvency margin ratio on a consolidated basis as of March 31, 2022 (97KB)PD..
PU
06/23Nikkei 225 Inches Up 0.1% on Strength in Retail, Transportation Sectors
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06/23Japanese shares end little changed; recession fears stoke volatility
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06/22Japan's Nikkei loses early gains on Wall St's recession fears
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06/19TOKIO MARINE : Divestment of Tokio Marine Highland's US Construction Division (36KB)PDF
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Analyst Recommendations on TOKIO MARINE HOLDINGS, INC.
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Financials
Sales 2022 5 586 B 41 349 M 41 349 M
Net income 2022 395 B 2 927 M 2 927 M
Net Debt 2022 836 B 6 191 M 6 191 M
P/E ratio 2022 13,7x
Yield 2022 3,07%
Capitalization 5 333 B 39 477 M 39 477 M
EV / Sales 2022 1,10x
EV / Sales 2023 1,05x
Nbr of Employees 43 257
Free-Float 94,5%
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Mean consensus BUY
Number of Analysts 13
Last Close Price 7 896,00 JPY
Average target price 8 087,50 JPY
Spread / Average Target 2,43%
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Managers and Directors
Satoru Komiya President, Group CEO & Representative Director
Tsuyoshi Nagano Chairman
Susumu Harada Managing Executive Officer & Head-Group IT
Kenji Okada MD, Head-Compliance & Legal Affairs
Akio Mimura Independent Outside Director
Sector and Competitors