A.M. Best Affirms Rating of Ecclesiastical Insurance Office plc.Business Editors OLDWICK, N.J.--(BUSINESS WIRE)--Nov. 22, 2000 A.M. Best 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 A- (Excellent) financial strength rating of 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 . Office plc, Gloucester, United Kingdom. The rating applies to the company's general insurance operations and is based on its 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. , excellent long-term return on surplus and leadership in the insurance of Anglican Churches in the United Kingdom. The company also has a leading position in other specialist sectors, such as independent schools, charitable institutions and care homes for the elderly. The rating also recognises the expertise of the company's in-house property valuation team, and its significant experience in the valuation of historic buildings. The company's strong capitalization allows it to take a relatively aggressive investment stance as evidenced by the 62% of unaffiliated general insurance investments held in equities. This portfolio is expected to outperform Outperform An analyst recommendation meaning a stock is expected to do slightly better than the market return. Notes: Exact definitions vary by brokerage, but in general this rating is better than neutral and worse than buy or strong buy. fixed-income investments in the long-term. The property valuation team enhances the company's ability to retain church insurance and business in other specialist sectors of the property insurance market. Its strong franchise and the long history of the "Ecclesiastical Insurance" brand name in the Anglican Church also reinforces the company's strong position with its core customers. Offsetting these positive rating factors are the general insurance 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. losses incurred in the last three years. The U.S. subsidiary, Chatham 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. Corporation Inc., contributed significantly to the overall underwriting loss for the second year in a row, mainly due to exposure to Hurricane Georges This article is about Atlantic hurricane of 1998. For other storms of the same name, see Hurricane Georges (disambiguation). Hurricane Georges (IPA: [ʒɔʒ] and further strengthening of claims reserves. This subsidiary was sold to Mapre Re, Spain, at the end of 1999. In addition, the company's experience in diversifying into non-core segments has not consistently matched its success in its core lines of business. Despite the difficulties associated with diversification and achieving critical mass, A.M. Best expects the company to continue its successful leading position in its core church-related business in the UK and to continue to maximise total return through its well-managed investment portfolio. It is also expected to expand its church and charitable institutions business in the United Kingdom, Australia and 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. through the subsidiaries acquired in 1998 from the Ansvar Group of companies. 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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