Credit Ratings

Insurer Financial Strength Rating / Long-Term Issuer Credit Rating

AA-

(AA): An insurer rated ‘AA’ has very strong financial security characteristics, differing only slightly from those rated higher.

Short-Term Issuer Credit Rating

A-1+

(A-1): An obligor rated ‘A-1’ has strong capacity to meet its financial commitments. It is rated in the highest category by Standard & Poor's.

Insurance Financial Strength Rating

Aa3

(Aa): Insurance companies rated Aa offer excellent financial security. Together with the Aaa group, they constitute what are generally known as high-grade companies. They are rated lower than Aaa companies because long-term risks appear somewhat larger.

Issuer rating

Aa3

(Aa): Obligations rated Aa are judged to be of high quality and are subject to very low credit risk.

Commercial Paper Rating

P-1

(P-1): Issuers (or supporting institutions) rated Prime-1 have a superior ability to repay short-term debt obligations.

Long-Term Senior Debts

AAA

(AAA): The highest level of capacity of the obligor to honor its financial commitment on the obligation.

Commercial Paper Program

J-1+

(J-1): The highest level of capacity of the obligor to honor its short-term financial commitment on the obligation.

Issuer Rating

AA

(AA): Very high creditworthiness supported by excellent factors.

Commercial Paper Rating

a-1+

Financial Strength Rating

A+

(A+): Superior

Issuer Credit Rating

aa

(aa): Superior

Insurer Financial Strength Rating /
Long-Term Issuer Credit Rating

AA-

(AA): An insurer rated ‘AA’ has very strong financial security characteristics, differing only slightly from those rated higher.

Insurance Financial Strength Rating

A1

(A): Insurance companies rated A offer good financial security. However, elements may be present which suggest a susceptibility to impairment sometime in the future. Moody's appends numerical modifiers 1, 2, and 3 to each generic rating classification from Aa through Caa. Numeric modifiers are used to refer tothe ranking within a group with 1 being the highest and 3 being the lowest. However, the financial strength of companies within a generic rating symbol (Aa, for example) is broadly the same.

Issuer Rating

AA

(AA): Very high creditworthiness supported by excellent factors.

Financial Strength Rating

A

(A): Excellent

Issuer Credit Rating

a+

(a): Excellent

Insurer Financial Strength Rating / Long-Term Issuer Credit Rating

AA-

(AA): An insurer rated ‘AA’ has very strong financial security characteristics, differing only slightly from those rated higher.

Short-Term Issuer Credit Rating

A-1+

(A-1) An obligor rated ‘A-1’ has strong capacity to meet its financial commitments. It is rated in the highest category by Standard & Poor's.

Insurer Financial Strength (IFS) Rating

A

(A): ‘A’ IFS Ratings denote a low expectation of ceased or interrupted payments. They indicate strong capacity to meet policy holder and contract obligations. This capacity may, nonetheless, be more vulnerable to changes in circumstances or in economic conditions than is the case for higher ratings.

Long-Term Rating (long-term senior debts / ability to pay insurance claims)

AA+

(AA): A very high level of capacity to honor the financial commitment on the obligation.

Short-Term Ratings (commercial paper)

J-1+

(J-1): The highest level of capacity of the obligor to honor its short-term financial commitment on the obligation. Within this rating category, obligations for which the capacity is particularly high are indicated by the symbol "J-1+."

Standard and Poor's
(link to website)

Insurer Financial Strength Rating

AA-

(AA): An insurer rated ‘AA’ has very strong financial security characteristics, differing only slightly from those rated higher.

Insurance Claims Paying Ability

AA

(AA): Very high claim paying ability supported by excellent factors.

Rating and Investment Information, Inc.
(link to website)

Insurance Claims Paying Ability

AA

(AA): Very high claim paying ability supported by excellent factors.

Standard and Poor's
(link to website)

Insurer Financial Strength Rating

AA-

(AA): An insurer rated ‘AA’ has very strong financial security characteristics, differing only slightly from those rated higher.

Issuer rating

AA

(AA): Very high claim paying ability supported by excellent factors.