A.M. Best Affirms Ratings of Mercer Insurance 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 Mercer Insurance Group (Mercer) (Pennington, NJ). The ratings apply to the following four inter-company 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. pool members: Mercer Insurance Company (Lock Haven Lock Haven, industrial city (1990 pop. 9,230), seat of Clinton co., N central Pa., on the West Branch of the Susquehanna River at the junction of Bald Eagle Creek, in an agricultural area; settled 1769, inc. as a city 1870. A lumber center in the 19th cent. , PA), Mercer Insurance Company of New Jersey, Inc. (Pennington, NJ), Franklin Insurance Company (Lock Haven, PA) and Financial Pacific Insurance Company (Rocklin, CA). The outlook for these ratings is stable. Concurrently, A.M. Best has assigned an ICR of "bbb" to Mercer Insurance Group, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : MIGP MIGP Military Intelligence Group MIGP Multicast Interior Gateway Protocol ) (Lock Haven, PA). The outlook assigned to the ICR is stable. The ratings reflect Mercer's excellent capitalization, solid operating performance driven by low loss ratios and conservative risk management approach to underwriting and investment risk. These positive rating factors are partially offset by Mercer's higher expense structure, driven by its conservative underwriting approach, the risks associated with its California building contractor's book of business (construction defect) and somewhat volatile accident year reserve development. 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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