Business Services Industry
A.M. Best Upgrades Sony Life Insurance
Business Wire, May 30, 2000
Business Editors
OLDWICK, N.J.--(BUSINESS WIRE)--May 30, 2000
A.M. Best Co. has upgraded the financial strength rating of Sony Life Insurance Company, Ltd., Tokyo, to A (Superior) from A (Excellent). The stable outlook is unaffected.
The rating reflects the company's superior capitalization, excellent operating performance and increasing market profile. Also reflected is A.M. Best's favorable view of Sony Life's distinctive and highly productive distribution method that allows it to continue to grow while the business of traditional companies has deteriorated. The rating acknowledges the company's superior solvency margin, excellent investment portfolio and the strategic importance to--and support of--its ultimate parent, the Sony Group.
Offsetting these strengths are an increasingly competitive market and continuing economic problems in Japan. Despite a modest decline in sales, Sony Life has been one of the companies least affected by Japan's recession and poor industry image. A.M. Best believes that Sony Life's ability to sustain strong growth under current market conditions is dependent on its ability to continuously improve the skills and productivity of its Life Planners and develop distinctive products.
A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com.
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