A.M. Best Affirms Meiji Yasuda's Financial Strength, Long-Term Issuer Credit Rating

KUALA LUMPUR, Jan 31 (Bernama) -- A.M. Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of "aa-" of Meiji Yasuda Life Insurance Company with a stable outlook. In a statement Tuesday, A.M. Best said the rating affirmations reflect Meiji Yasuda's strong capitalisation, strong business profile and stable operating performance. "Meiji Yasuda's risk-adjusted capitalisation, as measured by Best's Capital Adequacy Ratio (BCAR), remained very strong in fiscal year 2015, despite the effects of a decline in unrealised gains and an increase in goodwill due to its completed acquisition of StanCorp Financial Group, Inc. in March 2016," it added. Despite negative premium growth since fiscal year 2012, A.M. Best said Meiji Yasuda has maintained its position as Japan’s third-largest life insurer (including Japan Post) based on premium income. "The company has also retained the lead position in the group insurance segment, leveraging its good relationship with local government entities and regional financial institutions," it said. -- BERNAMA