AM Best affirms rating of ITOCHU captive

AM Best has affirmed the financial strength rating of ‘A-‘ (excellent) and the long-term issuer credit rating of “a-” (excellent) of Bermuda-domiciled NEWGT Reinsurance Company (NEWGT). The outlook for the ratings is stable.

NEWGT is a wholly owned subsidiary and captive insurer of ITOCHU, one of Japan’s largest general trading companies.

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