SIH

AM Best Downgrades Issuer Credit Rating of Sompo International Holdings Ltd.; Affirms Issue Credit Ratings on Debt Issuances

Retrieved on: 
Friday, September 23, 2022

Sompo International Holdings Ltd.—
-- “a-” (Excellent) on $335 million 7% senior unsecured notes, due 2034 (issued by Endurance Specialty Holdings Ltd. and guaranteed by Sompo International Holdings Ltd.)
-- “a-” (Excellent) on $300 million 4.7% senior unsecured notes, due 2022 (issued by Montpelier Re Holdings Ltd. and guaranteed by Sompo International Holdings Ltd.)

Key Points: 
  • AM Best has downgraded the Long-Term Issuer Credit Rating of Sompo International Holdings Ltd. (SIH) (Pembroke, Bermuda) from a (Excellent) to a- (Excellent).
  • The downgrade is to harmonize the intermediate holding company Credit Ratings (ratings) of SIH with the Financial Strength Ratings of Sompo Japan Insurance Inc. (The ratings of the insurance operating companies of SIH.
  • Concurrently, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) of a- (Excellent), which are guaranteed by SIH.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .

Allison Transmission and SAIC Hongyan Formalize Collaboration on Electric Axle Integration

Retrieved on: 
Thursday, September 30, 2021

This builds on the successful relationship between the two companies, where the majority of automatic equipped trucks SAIC Hongyan sells feature Allison automatic transmissions.

Key Points: 
  • This builds on the successful relationship between the two companies, where the majority of automatic equipped trucks SAIC Hongyan sells feature Allison automatic transmissions.
  • We are pleased to formalize our collaboration with Allison Transmission on the integration of their eGen Power electric axles into our next generation platforms, said Liu Bin, Deputy Director of Technical Center at SAIC Hongyan.
  • SAIC Hongyan will be the first Chinese OEM to integrate the eGen Power 130D electric axle into its trucks, which is specifically designed to accommodate vehicles that require a 13-tonne rated axle.
  • This series of fully integrated electric axles replaces the traditional powertrain, and features two high-speed electric motors and a multi-speed gearbox, providing SAIC Hongyan and their customers with exceptional performance and optimized efficiency.

AM Best Affirms Issuer Credit Rating of Sompo International Holdings Ltd.

Retrieved on: 
Thursday, September 9, 2021

-- “a-” (Excellent) on $300 million 4.7% senior unsecured notes, due 2022 (issued by Montpelier Re Holdings Ltd. and guaranteed by Sompo International Holdings Ltd.)

Key Points: 
  • AM Best has affirmed the Long-Term Issuer Credit Rating of a (Excellent) of Sompo International Holdings Ltd. (SIH) (Pembroke, Bermuda).
  • Concurrently, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) of a- (Excellent), which are guaranteed by SIH.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.