A.M. Best Affirms Rating for the Alfa Pool; Assigns Debt Rating.Business Editors OLDWICK, N.J.--(BUSINESS WIRE)--Oct. 18, 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. the financial strength rating of A++ (Superior) for the member companies of the Alfa Insurance Pool (NYSE NYSE See: New York Stock Exchange : ALFA), Montgomery, Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. . Additionally, a rating of AMB-1+ has been assigned to Alfa Corporation's commercial paper program. Alfa Mutual maintains majority ownership of Alfa Corporation and has unconditionally guaranteed Unconditionally Guaranteed is the eighth LP by Captain Beefheart & the Magic Band, originally released in 1974. Upon release it was criticised for being too commercial, however it failed to give Beefheart any real chart success and peaked at #192 on the Billboard all outstanding commercial paper. These ratings reflect Alfa's outstanding 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 operating returns and sustainable competitive advantage. These positive factors are derived from Alfa's firmly entrenched en·trench also in·trench v. en·trenched, en·trench·ing, en·trench·es v.tr. 1. To provide with a trench, especially for the purpose of fortifying or defending. 2. personal lines market position in Alabama, efficient claims service center network, and cost-effective exclusive agency distribution system. Also, the rating acknowledges Alfa's well-established brand name in Alabama, exceptional business persistency and high customer loyalty which is driven by its outstanding customer service practices. Moreover, Alfa benefits from management's commitment to balance sheet integrity, strict 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, a conservative reserving philosophy and emphasis on catastrophe exposure management. Through Alfa Corporation, the pool's publicly traded holding company and the issuer of the aforementioned commercial paper program, additional financial flexibility and access to capital markets is available. Along with writing property/casualty and life/health risks, Alfa Corporation is engaged in non-insurance operations such as consumer financing, commercial leasing, residential and commercial construction and real estate sales. The following are the companies that comprise the Alfa Insurance Pool: -- Alfa General Insurance Corp. -- Alfa Insurance Corp. -- Alfa Mutual Insurance Co. -- Alfa Mutual Fire Insurance Co. -- Alfa Mutual General Insurance Co. -- Alfa Specialty Insurance Corp. -- Virginia Mutual Insurance Co. 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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