A.M. Best Affirms Ratings of Ansvar Insurance Company Limited.OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating (FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current applications. Every open window takes some space in this area. See Windows memory limitation. ) of A- (Excellent) and the issuer credit rating (ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. ) of "a-" of Ansvar Insurance Company Limited (Ansvar) (United Kingdom). The outlook for both ratings remains stable. A.M. Best believes Ansvar will maintain strong risk-adjusted capitalisation in 2007 and 2008, supported by the retention of solid after-tax earnings. Capitalisation is enhanced by a GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 0.5 million (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1 million) subordinated perpetual loan from its parent, 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 (EIO (Enhanced I/O) A hardware interface for HP printers that is used for adding an internal print server and network adapter, a hard disk and other plug-in functionality. EIO cards are smaller than previous MIO cards and more energy efficient. They use the PCI bus. See MIO. ). In addition, Ansvar benefits from the support of its parent's main 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. programme and a 22.5% quota share agreement with EIO that covers all classes of business underwritten. Ansvar's pre-tax profit is likely to fall to approximately GBP 1 million in 2007 (compared to GBP 2.8 million (USD 5.7 million) in 2006), principally due to material flood losses and weak market conditions in the United Kingdom. Although Ansvar's conservative reinsurance programme is likely to mitigate its flood losses, the company is expected to report a small technical deficit. In 2008, A.M. Best anticipates a return to underwriting profitability, despite continuing pricing pressure in the company's core business lines. Ansvar has an excellent business position within the niche not-for-profit sector, insuring churches, charities and voluntary organisations. In the church sector, the company complements EIO's Anglican Church business by focusing on other denominations. Ansvar benefits from a strong relationship with a network of provincial brokers throughout the United Kingdom, which supports high client retention rates and provides EIO with additional access to business through intermediaries. For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com. |
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