Mitsui Sumitomo outlook ‘negative’ following coronavirus blow

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Mitsui Sumitomo Insurance (MSI) has received a negative outlook from Fitch Ratings, based on the impact of the coronavirus pandemic on the company’s financial strength and solvency.

According to a ratings advisory from Fitch, MSI’s outlook, insurer financial strength (IFS) rating and issuer default rating (IDR) have all been revised to negative from stable. Fitch has affirmed MSI’s IFS rating at ‘A+’ (strong), its IDR at ‘A’ and its US dollar subordinated debt at ‘A-’.

The insurer’s negative outlook, according to Fitch, reflects increased pressure on its capitalisation from stock-market volatility, a persistently low interest rate environment, and uncertainty and

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