A.M. Best Affirms Rating of Lloyd Adriatico S.p.A.OLDWICK, N.J. -- 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) of Lloyd Adriatico S.p.A. (Italy). The outlook remains negative, which is in line with the outlook for Lloyd Adriatico's parent company, Allianz AG (Allianz). A.M. Best deems Lloyd Adriatico to be a core subsidiary of its ultimate parent. Lloyd Adriatico underwrites more than 25% of its parent's total gross premium income in Italy and is the eighth-largest Italian composite insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. with a distinctive position in the motor and unit-linked life business. The rating reflects Lloyd Adriatico's superior 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. performance. A.M. Best believes that a combined ratio below 90% is likely to be achieved in 2004, supported by the company's effective risk selection for motor business, where the company has its greatest exposure. This is likely to offset expected downward pressure on tariff tariff, tax on imported and, more rarely, exported goods. It is also called a customs duty. Tariffs may be distinguished from other taxes in that their predominant purpose is not financial but economic—not to increase a nation's revenue but to protect domestic rates in the Italian motor market as a result of the general decline in loss frequency experienced in the sector since the introduction of the point system driving license. Lloyd Adriatico's consolidated risk-adjusted capitalisation n. 1. same as capitalization. Noun 1. capitalisation - writing in capital letters capitalization writing - letters or symbols that are written or imprinted on a surface to represent the sounds or words of a language; "he turned the paper is expected to remain at an excellent level, incorporating the impact of substantial dividends to the parent company. 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. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion