A.M. Best Affirms Debt and Financial Strength Ratings of Infinity Property & Casualty and Assigns Issuer Credit Ratings.OLDWICK, N.J. -- 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. the debt rating of "bbb" of Infinity Property & Casualty Corporation's (IPCC See IMS Forum. ) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : IPCC) (Birmingham, AL) $200 million 5.50% senior unsecured notes due 2014. Additionally, A.M. Best has affirmed the financial strength rating of A (Excellent) of Infinity Property & Casualty Group (Infinity P/C) (Birmingham, AL) and its operating insurance subsidiaries. Concurrently, A.M. Best has assigned issuer credit ratings (ICRs) of "a" to Infinity P/C and its operating insurance subsidiaries. A.M. Best has also assigned an 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 "bbb" to IPCC, the publicly-traded holding company. All ratings have a stable outlook. The affirmation of the financial strength rating reflects Infinity P/C's excellent 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. , strong non-standard automobile market presence and favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. overall operating performance. Infinity P/C ranks among the leading non-standard automobile writers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Business is heavily focused in California and Florida, which generates approximately 65% of direct business written. The following debt rating has been affirmed: Infinity Property & Casualty Corporation-- --"bbb" on $200 million 5.50% senior unsecured notes, due 2014 The financial strength rating of A (Excellent) has been affirmed and issuer credit ratings of "a" have been assigned to Infinity Property & Casualty Group and its following subsidiaries: --American Deposit Insurance Company --American Premier Insurance Company --Atlanta Casualty Company --Atlanta Reserve Insurance Company --Atlanta Specialty Insurance Company --Coventry Insurance Company --Infinity Insurance Company --Infinity National Insurance Company --Infinity Select Insurance Company --Leader Insurance Company --Leader Preferred Insurance Company --Leader Specialty Insurance Company --Regal Insurance Company --TICO Insurance Company --Windsor Insurance Company --Great Texas County Mutual Insurance Company An issuer credit rating of "bbb" has been assigned to Infinity Property & Casualty Corporation. For Best's Debt Ratings, all other Best's Ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. , an overview of the rating process and rating methodologies, please visit http://www.ambest.com/ratings. For current Best's Ratings, independent data and analysis on more than 3,000 individual property/casualty companies, groups and industry composites, please visit http://www.ambest.com/pc. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
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