AIR, Vol VI Issue 10. S&P has maintained Aioi Insurance Co Ltd's 'A+'
financial strength and long-term counterparty credit ratings despite the
company's recent statement that it will face additional subprime-related
losses and consequent net loss for 2007.
The Japanese non-life insurer warned earlier that it was expecting to post
a group net loss of 4 billion yen (US$38.6 million) for the year to
end-March, as well as combined losses of about 92 billion yen on its
exposure to subprime and securitised assets.
S&P says that Aioi is highly likely to maintain a capital base
commensurate with the 'A+' rating, given its company's strong
capitalisation.
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