A.M. Best Assigns ‘A+’ Rating to Nichido Ins. Co.

A.M. Best Co. has assigned an initial financial strength rating of “A+” (Superior) to Nichido Insurance Company (Pacific) Limited, (Nichido Pacific), Guam. The outlook is negative.

Satisfying A.M. Best’s reinsured rating criteria, the rating is based on the financial strength of Nichido Pacific’s parent company, The Nichido Fire and Marine Insurance Company Ltd. (Nichido Fire), and its relationship as an affiliated reinsurer to Nichido Pacific. Nichido Fire reinsures 90 percent of Nichido Pacific’s business. Therefore, Nichido Pacific has been assigned the same rating as its parent, as well as its financial size category of XV.