A.M. Best Affirms Ratings of Foremost Corporation Group and Its Members.OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating of A (Excellent) and issuer credit ratings (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 Foremost Corporation Group (Foremost) (Caledonia, MI) and its members. The outlook for all ratings is stable. The ratings reflect Foremost's favorable risk-adjusted capitalization on a stand-alone basis, solid operating performance, established market position, as well as the advantages associated with being affiliated with Farmers Insurance Group (Farmers) (Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , CA). Offsetting rating factors include Foremost's above average underwriting leverage and significant exposure to weather-related losses. Foremost's risk-adjusted capital position is based on its conservative investment risk profile and the catastrophe 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. provided by Farmers. Additionally, the group's favorable operating profitability, derived from its strict underwriting discipline and prudent risk management, has enabled Foremost to produce strong surplus growth over the past five years. Foremost's elevated underwriting leverage was the result of rollover A graphic element in an application or on a Web page that changes its color or shape when the pointer is moved (rolled) over it. See JavaScript rollover. See also n-key rollover. business from Farmers after its acquisition of Foremost. Net premium leverage is expected to continue to improve through organic surplus growth over the next several years. In addition, Foremost's net exposure to hurricane loss events is substantially reduced by its sound reinsurance program, particularly the catastrophe reinsurance protection provided by Farmers. The 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 ICRs of "a" have been affirmed for Foremost Corporation Group and its following members: * American Federation Insurance Company * Foremost County Mutual Insurance Company * Foremost Insurance Company Grand Rapids, Michigan “Grand Rapids” redirects here. For other uses, see Grand Rapids (disambiguation). Grand Rapids is a city in the U.S. state of Michigan. As of the 2000 census, the city population was 197,800. * Foremost Lloyds of Texas * Foremost Signature Insurance Company * Foremost Property and Casualty Insurance Company 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. 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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