New Jersey
16 February 2017
Reporter: Becky Butcher
Stable outlook for Sony captive
A.M. Best has revised the outlook of Sony Corporation’s Captive, PMG Assurance (Bermuda), from negative to stable.

The ratings agency also affirmed the financial strength rating of “A- (Excellent)” and the long-term issuer credit rating of “a-” of the captive.

According to A.M. Best, the ratings reflect PMG’s “excellent” capitalisation, “strong” operating performance and the “strategic” position of the captive insurance company of its parent, Sony.

PMG is a pure captive of Sony and its role is to meet certain global insurance requirements of Sony Group Members.

The captive writes proportional property and marine reinsurance business with a small amount of employee benefits coverage for Sony employees.

According to the ratings agency, PMG continues to be an “integral component” of Sony’s risk management platform.

More ratings news
The latest news from Captive Insurance Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Ratings affirmed for Shell captives
10 July 2017 | London | Reporter: Becky Butcher
A.M. Best has affirmed the ratings of Solen Versicherungen and Noble Assurance Company, the captives of Royal Dutch Shell
Archer Daniels Midland captives rated ‘excellent’ by A.M. Best
22 June 2017 | Oldwick | Reporter: Becky Butcher
A.M. Best has assigned a financial strength rating of “A- (Excellent)” and long-term issuer credit ratings of “a-” to both of Archer Daniels Midland's captives
Ratings of Duke Energy captive affirmed
15 June 2017 | Oldwick | Reporter: Becky Butcher
A.M. Best has affirmed the financial strength rating of “A (Excellent)” and the long-term issuer credit rating of “a” of Bison Insurance Company, the captive of Duke Energy Corporation
Honeywell captive withdraws from A.M. Best ratings
14 June 2017 | Oldwick | Reporter: Becky Butcher
Cedar Court Indemnity Company, the parent captive insurer of Honeywell International, has requested to be withdrawn from A.M. Best’s ratings process
Honeywell captive's ratings affirmed
08 June 2017 | Burlington | Reporter: Mark Dugdale
A.M. Best has affirmed the financial strength and long-term issuer credit ratings of the Vermont-based captive insurer of Fortune 100 technology and manufacturing company Honeywell International
A.M. Best upgrades Builders Insurance ratings
01 June 2017 | Oldwick | Reporter: Becky Butcher
A.M. Best has upgraded the financial strength rating of Builders Insurance, a mutual captive company, and its wholly owned subsidiaries, to “A (Excellent)”
Excellent ratings for Waste Management captive
30 May 2017 | Oldwick | Reporter: Becky Butcher
A.M. best has affirmed Waste Management’s captive’s financial strength rating of “A- (Excellent)” and its long-term issuer credit rating of “a-”