A.M. Best Affirms Ratings of Seven Seas Insurance Company, Inc.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 (Excellent) and the issuer credit rating of "a" of Seven Seas Insurance Company, Inc. (Seven Seas)(Riviera Beach Riviera Beach (rəvēr`ə), resort city (1990 pop. 27,639), Palm Beach co., SE Fla., on Lake Worth (a lagoon); inc. 1922. Research and development firms are located in the growing city. , FL). The outlook for both ratings is stable. The ratings reflect Seven Seas outstanding profitability, supportive capitalization and management's specialty 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. expertise within the ocean and inland marine cargo market. The ratings also acknowledge the advantages derived from the company's affiliation with Nicor, Inc. (NYSE NYSE See: New York Stock Exchange :GAS) and the synergies gained from Seven Seas effective low-cost distribution platform and preferential access to its insureds via the customer network of its affiliate, Tropical Shipping. 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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