A.M. Best Affirms Rating of Fremont Insurance Company.OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating of B+ (Very Good) of Fremont Insurance Company (Fremont) (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : FMMH) (Fremont, MI). The rating outlook remains positive. The rating reflects Fremont's well-established market presence as a writer of homeowners insurance in Michigan, improved quality of capital, stabilized overall operating results through the elimination of unprofitable business, tightened 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. guidelines guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. and expansion into less catastrophe prone areas of Michigan. These favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. rating factors are offset by Fremont's historically lower performance measures, fluctuating reserve development and elevated net premium leverage. In addition, the risks inherent in the company's geographic concentration in the state of Michigan may subject the company to weather-related loss exposure and potential adverse legal and regulatory conditions. Fremont writes commercial and personal auto, homeowners, mobile homeowners, farmowners, commercial multi-peril and inland marine coverages exclusively in Michigan. In recent years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time company added boiler and machinery coverage, personal, farm and commercial umbrella, as well as a yacht program to its product offering. Concurrently, A.M Best has assigned issuer credit ratings of "bbb-" to Fremont Insurance Company and "bb-" to Fremont's holding company, Fremont Michigan InsuraCorp, Inc. Both rating outlooks are positive. For 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 www.ambest.com/ratings. 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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