A.M. Best Affirms Rating of Gerling Konzern Allgemeine and Its Subsidiaries.Business Editors OLDWICK, N.J.--(BUSINESS WIRE)--March 31, 2003 A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) of Gerling Konzern Allgemeine Versicherungs-AG (GKA GKA Goroka, Papua New Guinea - Goroka (Airport Code) GKA Global Key Account ), Germany, and its core subsidiaries, Gerling America Insurance Company (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ) and Gerling Canada Insurance Company (Ontario). The outlook has been changed to negative from stable. The change in outlook reflects the potential damage that a further delay in the sales process A sales process is a systematic approach for performing product or service sales. The reasons for having a sales process include seller and buyer risk management, achieving standardized customer interaction in sales and scalable revenue generation. of GKA's parent company, Gerling-Konzern Beteiligungs-AG (GKB GKB Geospatial-Intelligence Knowledge Base GKB Girls Kick Butt GKB Gangsta Killa Bloods (gang) GKB Grosskrotzenburg (German city) GKB Greg Kihn Band (rock group) ), could have on GKA's excellent business position in the industrial sector, where it is one of the market leaders. A.M. Best believes that GKA's assets are sufficiently protected to meet policyholders' claims and will not be used to finance any potential difficulties of Gerling Konzern Globale Ruckversicherungs-AG (GKG GKG Gabah Kering Giling ). Failure to reach an agreement with a prospective buyer by the end of May 2003 will add pressure to the current rating level, which takes into account GKA's prospective business position. 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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