MSIG USA announced today that S&P Global Ratings and AM Best have both reaffirmed the company's A+ ratings.
NEW YORK, July 9, 2024 /PRNewswire-PRWeb/ -- MSIG USA today announced that S&P Global Ratings and AM Best have both reaffirmed the company's A+ ratings. This recognition underscores the company's strong financial foundation, operational performance, strategic risk management practices, and unwavering commitment to delivering unparalleled insurance solutions.
S&P Global Ratings assigned MSIG USA an Issuer Credit Rating and Financial Strength Rating of A+/Stable. In its assessment, S&P highlighted MSIG USA's robust capitalization, prudent underwriting practices, and strategic alignment with Mitsui Sumitomo Insurance Group's global operations.
Similarly, AM Best affirmed MSIG USA's Financial Strength Rating of A+. The ratings reflect MSIG USA's solid balance sheet, high-quality investment portfolio, and consistent operating performance. AM Best also noted the company's effective enterprise risk management framework and its strong market presence in the commercial casualty sector.
"We are extremely pleased with the reaffirmation of our A+ ratings from both S&P and AM Best," said Peter McKenna, CEO of MSIG USA. "These ratings underscore our disciplined approach to underwriting and our unwavering commitment to providing superior service to our clients. This foundation allows us to deliver innovative insurance solutions and continue to drive sustainable growth in the US market."
Akihiko Ikeno, Chairman, Interim Chief Executive Officer & President of MSIG Holdings (U.S.A.), Inc., added, "The affirmed ratings highlight the resilience and solid foundation that MSIG USA provides. With our 300-year heritage of excellence, we are dedicated to delivering exceptional service and leveraging our extensive experience to consistently exceed client expectations."
About MSIG USA
MSIG USA is the marketing term used to refer to insurance subsidiaries and their managers under MSIG Holdings (U.S.A.), Inc. ("MSIGH")which are Mitsui Sumitomo Insurance Company of America, Mitsui Sumitomo Insurance USA Inc., and MSIG Specialty Insurance USA Inc. managed by Mitsui Sumitomo Marine Management (U.S.A.), Inc. and MSIG Insurance Services, Inc. MSIGH is a subsidiary of MS&AD Insurance Group Holdings, Inc., one of the world's top P&C carriers with a 350-year heritage, A+, Class 15 ratings, and a global reach that spans 40+ countries and regions. MSIGH utilizes that heritage to bring the financial strength, underwriting expertise, exceptional claims management, global footprint, and innovation necessary to offer commercial insurance solutions that address unique risks businesses face in today's market. Our nationwide network of over 500 professionals enables us to provide responsive and personalized service for our clients. The US-based insurance subsidiaries are admitted in all P&C lines in all 50 states, the District of Columbia, and Puerto Rico. Not all insurers do business in all jurisdictions. Actual coverage is subject to the language of the policies as issued. To learn more, visit www.msigusa.com.
Media Contact
Jennifer Marino, MSIG USA, 1 508-272-3084, [email protected], MSIGUSA.com
SOURCE MSIG USA
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