A.M. Best Affirms, Assigns and Withdraws Ratings of Great Lakes Insurance Company.OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating (FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current applications. Every open window takes some space in this area. See Windows memory limitation. ) of A- (Excellent) and assigned an issuer credit rating (ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. ) of "a-" to Great Lakes Insurance Company (Great Lakes) (Newark, DE), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of JPMorgan Chase & Co [NYSE NYSE See: New York Stock Exchange : JPM JPM J. P. Morgan Chase & Co. (stock symbol) JPM Juan Pablo Montoya (formula 1 driver) JPM Jabatan Perdana Menteri (Malaysia) JPM Journal of Property Management ]. The outlook for both ratings is stable. Concurrently, A.M. Best has withdrawn both the FSR and ICR and assigned an NR-5 (Not Formally Followed) to Great Lakes. These rating actions are due to the company discontinuing issuance of new policies, as well as it being merged into an unrated JPMorgan Chase & Co owned captive insurer in the near future. For current Best's Ratings and independent data on the captive and alternative insurance market, please visit www.ambest.com/captive. Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors. For more information, visit www.ambest.com. |
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