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 of PFI affirmed by A.M Best
08 January 2018 | Oldwick | Reporter: Ned Holmes
A.M. Best has affirmed the financial strength rating of “A+ (superior)” and the long-term issuer credit ratings of “aa-” for Prudential Financial and it's domestic life/health insurance subsidiaries
Telefonica captive ratings affirmed as ‘excellent’
22 December 2018 | London | Reporter: Ned Holmes
A.M. Best has affirmed a financial strength rating of “A- (Excellent)” and the long-term issuer credit rating of “a” of Nova Casiopea Re
Echelon Financial Holdings ratings affirmed
21 December 2017 | Oldwick | Reporter: Ned Holmes
A.M. Best has affirmed the financial strength rating and long-term issuer credit rating of Echelon Insurance Echelon and ICPEI and its parent company Echelon Financial Holdings EFH
A.M. Best affirms Houston Casualty Group and HCC Life ratings
20 December 2017 | Oldwick | Reporter: Ned Holmes
A.M. Best has affirmed the FSR of “A++ (Superior)” and long-term ICR of “aa+” of both the property and casualty members of Houston Casualty Group and of HCC Life
A.M. Best: Global reinsurance outlook remains negative
19 December 2017 | Oldwick | Reporter: Ned Holmes
A.M. Best’s outlook for the reinsurance market segment remains at negative due to the current uncertainty surrounding any improvement in the market environment
Ameriprise captive rated ‘excellent’, says A.M. Best
14 December 2017 | New Jersey | Reporter: Ned Holmes
Ameriprise Captive Insurance Company (ACIC) has received a financial strength rating of “A (Excellent)” and a long-term issuer credit rating of “a+” from A.M. Best.
NiSource captive rated ‘excellent’ by A.M. Best
11 December 2017 | Oldwick | Reporter: Ned Holmes
A.M. Best has given the financial strength rating of “A- (Excellent)” and the long-term issuer credit rating of “a-” to NiSource Insurance Corporation (NICI).