Swiss Re Insurance-Linked Fund Management

Xactanalysis Insights and PCS

Moody’s negative on Japan’s big P&C insurers


Ratings agency Moody’s has changed the outlooks on its ratings of some of Japan’s largest property & casualty (P&C) insurers to negative in the wake of the Japanese earthquake and tsunami. The negative outlook reflects the view that losses from the event will put pressure on the insurers profitability and capitalization benchmarks.

Moody’s also notes that the Japanese P&C insurance market already suffers from low to negative growth and with the threat of increased reinsurance costs after the disaster that will put further pressure on the sector.

Ratings on the following insurers have all been affirmed with a negative outlook:

  • Tokio Marine & Nichido Fire Insurance Co., Ltd.
  • Mitsui Sumitomo Insurance Co., Ltd.
  • Sompo Japan Insurance Inc.
  • Aioi Nissay Dowa Insurance Company, Limited

Any increase in costs from reinsurance for Japanese insurers could, of course, translate into an increased interest in capital markets risk transfer (such as cat bonds) in the region.

You can access the full article from Moody’s here.

Register today for ILS NYC 2023, our next insurance-linked securities (ILS) market conference. Held in New York City, February 10th, 2023.

Artemis London 2022 - Insurance-linked securities conference in London

Get a ticket soon to ensure you can attend. Secure your place at the event here!

Print Friendly, PDF & Email

Artemis Newsletters and Email Alerts

Receive a regular weekly email newsletter update containing all the top news stories, deals and event information

  • This field is for validation purposes and should be left unchanged.

Receive alert notifications by email for every article from Artemis as it gets published.