Best Withdraws Unum Japan’s ‘B++’ Ratings

A.M. Best Co. announced that it has withdrawn the financial strength rating of “B++” (Very Good) of Unum Japan Accident Insurance Co. Ltd. following the change in ownership to Hitachi Capital Corporation.

“UnumProvident Corporation sold Unum Japan to Hitachi Capital Corporation, and it was subsequently renamed Hitachi Capital Insurance Corporation,” said Best. “Upon the company’s request, A.M. Best withdrew the rating. Hitachi Capital Insurance Corporation has been assigned an NR-5 (Not Formally Followed) status.”