TEXT-S&P summary: Aioi Nissay Dowa Insurance Co. Ltd. - Reuters
(The following statement was released by the rating agency)
May 16 -
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Summary analysis -- Aioi Nissay Dowa Insurance Co. Ltd. ----------- 16-May-2012
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CREDIT RATING: Country: Japan
Local currency A+/Stable/A-1
Primary SIC: Insurance
carriers, nec
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Credit Rating History:
Local currency Foreign currency
22-Feb-2012 A+/A-1 --/--
01-Oct-2010 AA-/A-1+ --/--
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Rationale
The ratings on Aioi Nissay Dowa Insurance Co. Ltd. (ADI; A+/Stable/A-1) reflect its position as a core operating entity of MS&AD Insurance Group and a very strong competitive position supported by affiliations with Toyota Motor Corp (AA-/Negative/A-1+) and Nippon Life Insurance Co. (A+/Stable/--). At the same time, the ratings are restrained by its weaker profitability than its international peers and the vulnerability of its capital to stock price fluctuations, as well as continued difficulties in the domestic business environment, such as limited growth potential and intense competition.
16 May, 2012
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Source: http://www.reuters.com/article/2012/05/16/idUSWLB979120120516
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