TOKYO, March 20 /Xinhua-PRNewswire/ -- Fuji Fire & Marine Insurance Co., Ltd. (hereafter "Fuji Kasai") (TYO: 8763) received an "A-" upgraded from the previous "BBB+" in financial strength and local currency long-term counterparty credit ratings from Standard & Poor's on March 15, 2007.
(Logo: http://www.prnasia.com/sa/200703201402-min.JPG )
The upgrade of Fuji Kasai reflects two key points:
-- Improved levels of profitability and capitalization
-- Improved prospects for strengthening the company's competitive
position
"We are very pleased with the upgrading from S&P and believe this is based on our endless efforts to accomplish our number one goal as an insurance provider: to offer high-quality products and services that meet customer demand," said Bijan Khosrowshahi, Fuji Kasai's Representative Executive President and CEO. "This further indicates that Fuji Kasai is creating 'A New Quality' of insurance and value for our customers and shareholders."
Fuji Kasai has developed seven corporate mandates to further the company's strong financial position and reinforce its commitment to responsible corporate management:
1) Profitable Growth
2) Reliable Service
3) Innovative Products
4) Professional Distribution Channels
5) Increasing Shareholder Value
6) Compliance and Corporate Social Responsibility
7) Creative and Challenging Corporate Culture
Fuji Kasai is a leading insurance company providing non-life insurance products and services through more than 200 offices across Japan. www.fujikasai.co.jp
Contact:
Akihiko Edano
Fuji Fire & Marine Insurance Co., Ltd.
Corporate Communications,
Office of the President
Tel: +81-3-5550-4333