Log In

Reset Password

Rating affirmed for Nissan’s Bermuda captive

AM Best has affirmed the financial strength rating of A (Excellent) and the long-term issuer credit rating of “a” (Excellent) of Bermudian-based Nissan Global Reinsurance Ltd, the captive insurer for the automobile manufacturing giant.

The outlook of these credit ratings is stable.

The agency said the ratings reflected NGRe’s balance sheet strength, which AM Best assessed as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

The neutral business profile considers NGRe’s strategic role as a captive insurer for its parent, Nissan Motor Co Ltd.

The rating affirmations reflect NGRe’s continued profitable operations, which have resulted in consistent growth in surplus, sustaining its strongest risk-adjusted capitalisation, as measured by Best’s capital adequacy ratio, and providing ample liquidity for its selected risks and exposures.

In its role as a single-parent captive, AM Best said, NGRe provided Nissan with a host of insurance coverages in the United States and abroad, including but not limited to extended service contracts, product liability and inland marine.

Japanese automaker Nissan headquarters today in Yokohama near Tokyo. (AP Photo/Eugene Hoshiko)

You must be Registered or to post comment or to vote.

Published May 12, 2022 at 5:26 pm (Updated May 12, 2022 at 10:15 pm)

Rating affirmed for Nissan’s Bermuda captive

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon