AM Best Affirms Credit Ratings of Nissan Global Reinsurance, Ltd.

Rhea-AI Summary

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of 'a' (Excellent) for Nissan Global Reinsurance, Ltd. (NGRe). The ratings reflect NGRe's very strong balance sheet strength, adequate operating performance, and stable outlook. NGRe continues to achieve profitable operations, resulting in consistent surplus growth and strong capitalization. As a captive insurer for Nissan Motor Co., Ltd. (NASDAQ: NSANY), NGRe provides various insurance coverages, benefiting from Nissan's extensive risk management practices.

Positive

• Affirmation of Financial Strength Rating of A (Excellent) by AM Best.
• Consistent growth in surplus, sustaining strongest risk-adjusted capitalization.
• Adequate operating performance with a stable outlook.

Negative

• None.

OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Nissan Global Reinsurance, Ltd. (NGRe) (Hamilton, Bermuda). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect NGRe’s balance sheet strength, which AM Best assesses 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. (Nissan) [NASDAQ: NSANY].

The rating affirmations reflect NGRe’s continued profitable operations, which have resulted in consistent growth in surplus, sustaining its strongest risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), and providing ample liquidity for its selected risks and exposures. NGRe is a single-parent captive of Nissan, one of the largest automakers in the world. In its role as a single-parent captive, NGRe provides 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. As a member of the Nissan family of companies, NGRe benefits from the group’s proprietary data warehouse, extensive risk management practices and loss control programs.

AM Best remains the leading rating agency of alternative risk transfer entities, with more than 200 such vehicles rated in the United States and throughout the world. For current Best’s Credit Ratings and independent data on the captive and alternative risk transfer insurance market, please visit www.ambest.com/captive.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220511006050/en/

Kourtnie Beckwith, CPCU, AU, AMIM

Financial Analyst

+1 908 439 2200, ext. 5124

kourtnie.beckwith@ambest.com

Christopher Sharkey

Manager, Public Relations

+1 908 439 2200, ext. 5159

christopher.sharkey@ambest.com

Dan Teclaw

Associate Director

+1 908 439 2200, ext. 5394

dan.teclaw@ambest.com

Jeff Mango

Managing Director,

Strategy & Communications

+1 908 439 2200, ext. 5204

jeffrey.mango@ambest.com

Source: AM Best

FAQ

What ratings did AM Best affirm for Nissan Global Reinsurance, Ltd. (NSANY)?

AM Best affirmed a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of 'a' (Excellent) for Nissan Global Reinsurance, Ltd.

What is the outlook for Nissan Global Reinsurance, Ltd. (NSANY)?

The outlook for Nissan Global Reinsurance, Ltd. is stable.

Why is Nissan Global Reinsurance rated A (Excellent)?

The rating is due to NGRe's very strong balance sheet strength, adequate operating performance, and its role as a captive insurer for Nissan Motor Co.

How does Nissan Global Reinsurance support Nissan Motor Co. (NSANY)?

Nissan Global Reinsurance provides a variety of insurance coverages, including extended service contracts and product liability, bolstering Nissan's risk management.