Insurance company ratings concern A.M.Best has affirmed Nippon Life’s financial strength and ‘long-term issuer’ credit ratings at A+ (superior) and aa- respectively.
In the firm’s view, the balance sheet of Japan’s largest privately owned life co is supported by a risk-adjusted capitalization that is “the strongest possible” and a “conservative investment portfolio”.
Beyond noting that the company keeps a modest gap between asset and liability durations, A.M.Best’s press release does not comment on the details of Nippon Life’s holdings but there is no reason to suppose that these are substantially different from those of other members of the Life Assurance Association of Japan net of Japan Post’s portfolio (q.v. archive 13 September 1017 Life cos’ allocations steady, Post supposedly set for change).
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