A.M. Best removes ratings of Tokio Marine

A.M. Best removes ratings of Tokio Marine Pacific Insurance Limited from under review and assigns stable outlook

Oldwick, N.J. (BUSINESS WIRE) - A.M. Best Co. has removed from under review with negative implications the financial strength rating of A+ (Superior) and the issuer credit rating of "aa-" of Tokio Marine Pacific Insurance Limited (TMPI) (Guam). At the same time, A.M. Best has affirmed the ratings and assigned a stable outlook.

TMPI was placed under review due to the uncertainties relating to its plan to expand its business lines. During the third quarter of 2007, TMPI's parent company, Tokio Marine & Nichido Fire Insurance Co. Ltd.

(TMNF), transferred net assets of approximately USD 4 million from its branch operation in Guam to TMPI. TMPI's capital and surplus stood at USD 12 million as at September 30, 2007.

A.M. Best believes that TMPI's risk-adjusted capitalization, as demonstrated by Best's Capital Adequacy Ratio, is adequate to support the current ratings and the expansion plan to underwrite property and casualty business.

The ratings also recognize the financial support, in terms of reinsurance protection, as well as the explicit financial guarantee from TMNF.

For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers.
For more information, visit www.ambest.com.

A.M. Best Co.

Analysts:Billy Kwan, +852-2827-3405 billy.kwan@ambest.com or Moungmo Lee, +852-2827-3402 moungmo.lee@ambest.com or Public Relations: Jim Peavy, +(1) 908-439-2200, ext. 5644 james.peavy@ambest.com or Rachelle Morrow, +(1) 908-439-2200, ext. 5378 rachelle.morrow@ambest.com