MEDIA RELEASE

A.M. Best Co., the global credit rating agency dedicated to serving the financial and health-care service industries, has upgraded its Financial Strength Rating (FSR) for First Insurance Company of Hawaii (FICOH) to “A+” (superior) from “A” (excellent).

FICOH now has the highest FSR among Hawaii-based property and casualty insurance carriers.

A.M. Best specifically highlighted FICOH’s long-term financial performance, conservative reserving, and strong local market presence as reasons for the upgrade, as well as the operational and financial support the company has gained as a wholly owned subsidiary of Tokio Marine & Nichido Fire Insurance since late 2011.

“Our A+ rating gives discriminating customers one more reason to trust First Insurance with their insurance needs,” said Allen Uyeda, president and CEO of First Insurance. “It validates our responsible approach to our business and communicates to our agency partners and policyholders our strong and enduring commitment to the Hawaii market.”

Best’s Financial Strength Rating provides an independent opinion of an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations.

It is based on a comprehensive quantitative and qualitative evaluation of a company’s balance sheet strength, operating performance and business profile, and it gives consumers a valuable benchmark for comparing insurers.

Founded Aug. 11, 1911, First Insurance Company of Hawaii, Ltd. is the oldest and largest property and casualty insurer domiciled in Hawaii, with assets of $681.1 million, liabilities of $416.6 million and policyholders’ surplus of $264.5 million as of September 30, 2012.

First Insurance, a member of the Japan-based Tokio Marine Group, enjoys an “A+” (superior) rating from A.M. Best Co., whose ratings are widely recognized as a benchmark of an insurer’s financial strength.

Proud of its broadly experienced, service-oriented staff, First Insurance employs more than 300 insurance professionals and distributes its products through 29 independent general agencies. It has claims personnel on Oahu, Kauai, Maui and the Big Island.

— Find out more:
www.ficoh.com