A.M. Best Affirms "A" Rating of First American Title Insurance Group.OLDWICK, N.J.--(BUSINESS WIRE)--Dec. 15, 1998--A.M. Best Co. has affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. its "A" (Excellent) rating on First American First American may refer to:
Santa Ana (sän'tä ä`nä), city (1993 pop. 129,873), W El Salvador. It is the second largest city in the country and the commercial and processing center for a sugarcane, coffee, and cattle region. , Calif. The rating applies to the group and the consolidated operating performance and financial condition of the 12 title insurance companies in the group. It reflects the group's superior financial performance, operating strategy and strong capitalization capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. . The group is one of the nation's leading companies, providing a full range of services to property buyers, mortgage lenders and financial entities. The pattern of growth and profitability for the group has exceeded industry norms. The group's revenues grew 18.1% in 1997, to $1.9 billion, with its overall market share exceeding 21%. Real estate activity is highly competitive and is affected by the cost and availability of long-term mortgage funds creating economic cycles. First American has addressed these challenges by offering a diverse mix of real estate products and services that it distributes nationally and internationally through a network of subsidiaries, branches and agencies. The balance of direct and agency operations allows the group to take advantage of good markets and reduced costs in sluggish markets. In addition, the group's focus on providing quality service, increasing its market share and diversifying its product mix has resulted in a revenue mix that offsets revenue fluctuations in its core business. Based on the group's consistent management team, continued growth in market share and superior operating results, A.M. Best views its rating outlook as positive. The following companies are members of this rating group: First American Title Insurance Co. (California), First American Title Insurance Company of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , First American Title Insurance of Oregon, First American Title Insurance Company of Texas, First American Title Insurance Company of North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , First American Title & Trust (Oklahoma), Land Title Insurance Company of St. Louis, Massachusetts Title Insurance Co., Mortgage Guarantee & Title Co. (Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. ), the Port Lawrence Title & Trust Co. (Ohio), First American Title Insurance Co. (Canada), and First American Title Insurance Co. (UK) Ltd. A.M. Best Co., established in 1899, is America's oldest and most widely recognized insurance rating and information source. For more information, visit A.M. Best's Web site at http://www.ambest.com. |
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