A.M. Best Affirms Rating for EIG-Ansvar.Business Editors OLDWICK, N.J.--(BUSINESS WIRE)--Nov. 19, 2001 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. a financial strength rating of A (Excellent) for EIG-Ansvar Limited, New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. . This rating reflects EIG-Ansvar's consistent overall profitability, a low leverage position, strong capital and surplus level, excellent liquidity and the committed support of its new UK based parent, the Ecclesiastical Insurance  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . Group. Also recognized is the underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. discipline of the company in providing insurance coverage for church attendees, churches and other religious organizations in both life and non-life insurance. Additionally, it acknowledges the commitment of the management team and the employees of EIG-Ansvar to achieve focused profitable growth by ensuring the highest level of customer service and establishing new alliances with brokers, while maintaining a low expense ratio. In addition to capital support, the company has access to the expertise of its parent in placing reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. in the London market, as well as in product development and technical areas. The sharing of resources in insurance and investment operations with its sister operation in Australia will improve efficiency, facilitate diversification and strengthen the long-term competitiveness of EIG-Ansvar. Somewhat offsetting these positive rating factors are EIG-Ansvar's niche size, vulnerability to earnings volatility and predatory predatory pertaining to predator. predatory behavior the hunting of birds, mice and small reptiles by cats and the hunting and herding behavior of dogs, often facilitated in a pack. competition from market leaders. The modest asset size of EIG-Ansvar imposes strong pressure to maintain low expenses which could constrain con·strain tr.v. con·strained, con·strain·ing, con·strains 1. To compel by physical, moral, or circumstantial force; oblige: felt constrained to object. See Synonyms at force. 2. necessary investments in technology and customer servicing. This might impact future market share growth and business retention; however, the rating outlook is stable. A.M. Best is one of two approved rating agencies for New Zealand under the Inspections and Ratings Act of 1994. 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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