Fitch revises Nippon Life view to stable

Fitch Ratings said it revised the outlook Nippon Life Insurance Co. to stable from negative and affirmed issuer rating at A and the rating on its U.S. dollar subordinated debt at A-.

“The stable outlook reflects Fitch's assessment that the insurer will maintain its capital adequacy and financial performance, which are more favorable than the pro forma results implied by our pandemic stress-test analysis in 2020, the basis for the negative outlook previously. Fitch has revised our forecast of the impact of the coronavirus and assumed equity markets have returned to a period of more normalized volatility,” the agency said in a press release.

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