A.M. BEST COMMENTS ON CREDIT RATINGS OF SOMPO JAPAN NIPPONKOA INSURANCE INC.

HONG KONG, Sept 5 (Bernama-BUSINESS WIRE) -- A.M. Best has commented that the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” of Sompo Japan Nipponkoa Insurance Inc. (SJNK) (Japan) remain unchanged following its announced sale of Sompo Canopius AG (Canopius) (Switzerland).

This commentary follows SOMPO Holdings, Inc.’s (Sompo) announcement on Sept. 1, 2017, that its wholly owned subsidiary, SJNK, has entered an agreement to sell 100% of its shares in Canopius to Fortuna Holdings Limited, an affiliate of Centerbridge Partners, L.P. (Cayman Islands).

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