A.M. Best Affirms Ratings of MetLife Auto & Home and Its Members.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 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 MetLife Auto & Home and its nine members, which are led by Metropolitan Property and Casualty Insurance Company (Warwick, RI). The outlook for all ratings is stable. (See below for a detailed listing of the companies.) The ratings reflect MetLife Auto & Home's adequate capitalization, consistent operating performance, strong enterprise risk management practices and successful multiple-channel distribution network. Partially offsetting these positive rating factors is the group's moderately elevated 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. leverage, as well as its exposure to weather-related events. The rating outlook is based on the group's adequate capital strength, consistently favorable operating trends and the support of its parent company, MetLife, Inc (MetLife) (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 , NY) (NYSE NYSE See: New York Stock Exchange : MET). All ratings for MetLife are unaffected. Positive rating attributes include MetLife Auto & Home's geographic diversification and the marketing advantage it derives from the established brand name recognition of MetLife. In addition, the ratings acknowledge management's focused operating strategy, extensive product knowledge and multiple distribution channels. The group has consistently generated capital through operating earnings Operating Earnings Profits after subtracting expenses such as marketing, cost of goods sold, administration and general operating costs from revenue. Notes: Tax and interest expenses are not subtracted - operating earnings are synonymous with EBIT (earnings before reflective of disciplined underwriting and a steady stream of investment income. Behind these results is an enterprise risk management structure of oversight committees and work groups that maintain various procedures and contingency plans A plan involving suitable backups, immediate actions and longer term measures for responding to computer emergencies such as attacks or accidental disasters. Contingency plans are part of business resumption planning. within MetLife Auto & Home. Although MetLife Auto & Home has incurred large catastrophic losses as a result of several hurricanes in recent years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time group continues to reduce its catastrophe exposure through underwriting initiatives, coverage limitations, increased deductibles and 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. protection, which should favorably affect future operating earnings. The FSR of A (Excellent) and ICRs of "a+" have been affirmed for MetLife Auto & Home and its following members: * Metropolitan Property and Casualty Insurance Company * Economy Fire & Casualty Company * Economy Preferred Insurance Company * Economy Premier Assurance Company * Metropolitan Casualty Insurance Company * Metropolitan Direct Property and Casualty Insurance Company * Metropolitan General Insurance Company * Metropolitan Group Property and Casualty Insurance Company * Metropolitan Lloyds Insurance Company of Texas For Best's Credit Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. The principal methodologies used in determining these ratings, including any additional methodologies and factors that may have been considered, can be found at www.ambest.com/ratings/methodology. 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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