Sompo International’s issuer credit rating lowered by AM Best

Ratings agency AM Best has downgraded the long-term issuer credit rating of Bermuda-based global specialty re/insurer Sompo International Holdings (SIH) from “a” to “a-”.

The downgrade is to “harmonise” the intermediate holding company credit ratings (ratings) of SIH with the financial strength ratings of Sompo Japan Insurance.

The ratings of the insurance operating companies of SIH remain unchanged.

The outlook of these ratings is stable.

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