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Sompo’s financial strength looks strong

  • Publish Date: Posted over 7 years ago

S&P Global Ratings and Fitch Ratings have confirmed that the financial strength of Sompo Japan Nipponkoa looks stable following its planned acquisition of Endurance Specialty Holdings. The findings were based on the insurer’s growth potential in life and overseas insurance as well as its competitive position in the market. The acquisition did have an impact on the rating of the company as it was downgraded slightly from A+ to AA- due to the fall in capital expected from the $6.5bn purchase. S&P Global Ratings said that although the acquisition will affect the short term capital position of Sompo the move would support the businesses base by giving it more sources to generate revenue