Sompo International Holdings has secured an upgrade from Standard & Poor’s Global Ratings.
The rating agency has raised its financial strength rating to A+ from A. It has also raised the assessment of the Sompo Holdings Group’s enterprise risk management to ‘Strong’ from ‘Adequate with strong risk controls’.
S&P cited “SIH’s increased integration and strategic importance to Sompo Group” as the company leverages SIH’s operating platform “to enhance its product and geographic mix and expand its international presence.”
In raising Sompo’s ERM assessment, S&P commented that it views favourably the continued use of return-on-risk metrics in evaluating various risk-taking initiatives, and the use of ERM analysis in making strategic decisions, such as product pricing and due diligence for mergers and acquisitions.
Sompo International, S&P, rating, upgrade