Sony Life Obtains Aa3 Insurance Financial Strength Rating from Moody's
March 16, 2006
Sony Life Insurance Co., Ltd. (hereinafter "Sony Life"), a wholly-owned subsidiary of Sony Financial Holdings, today announced that as of March 16, 2006, the company was assigned for the first time an Aa3 (outlook: stable) insurance financial strength rating from Moody's Investors Service. Sony Life believes that the company's efforts to achieve solid business growth and maintain financial strength played an instrumental role in obtaining this high rating.
Major points reflected in the rating are as follows;
- Sony Life has effectively distributed its insurance products through its consultative Lifeplanner sales force, which consists of seasoned financial professionals.
- Sony Life has achieved stable in-force business growth with a relatively high persistency rate during the past few years.
- Sony Life continues to demonstrate its strong capitalization by maintaining the highest solvency margin level in the Japanese life insurance industry.
- As one of the core members of the Sony Financial Holdings Group, Sony Life's affiliation with Sony Bank Inc. and Sony Assurance Inc. has provided cross-selling opportunities to enhance its business growth and broaden its customer base.
Sony Life will continue to raise its customer satisfaction level and strengthen its business foundations to become one of the most trusted life insurers.
Note: This is an English-language summary of a Japanese announcement made by Sony Life on March 16, 2006. The summary was prepared by Sony Financial Holdings Inc. solely for the convenience of non-Japanese readers.
