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A.M. Best Affirms Ratings of Meiji Yasuda Life Insurance Company
OLDWICK, N.J.--(BUSINESS WIRE)--Jan. 31, 2007--A.M. Best Co. has affirmed the financial strength rating of A (Excellent) and the issuer credit rating of "a" of Meiji Yasuda Life Insurance Company (Meiji Yasuda) (Japan).
The outlook for both ratings has been revised to stable from negative.
The ratings reflect the company's strengthened capitalization, solid core operating profitability and gradual recovery of operating performance.
Meiji Yasuda's capitalization has improved substantially over the past three years.
The company's adjusted reported surplus (the sum of reported surplus, contingency reserves and price fluctuation reserves) improved by 50.4% year over year in fiscal year 2005 to JPY 3,494 billion (USD 29.6 billion).
Source: HighBeam Research, A.M. BEST AFFIRMS RATINGS OF MEIJI YASUDA LIFE INSURANCE COMPANY.