A.M. Best Affirms Ratings of Zurich Financial Services Group.Business Editors OLDWICK, N.J.--(BUSINESS WIRE)--May 30, 2003 A.M. Best Co. has affirmed the financial strength ratings of A (Excellent) of Zurich Financial Services Zurich Financial Services Group is a major financial services group based in Zurich, Switzerland. Global operations North America The US consumer market is served primarily by Farmers Insurance Group the third largest personal lines property & casualty insurance Group (ZFS (1) (Zettabyte File System) A distributed file system from Sun that was added to OpenSolaris in 2005 and Solaris 10 in 2006. With support for 128 bits, compared to 64 for NTFS and other contemporary file systems, storage capacity is unlimited for all practical ), Switzerland, and core subsidiaries. The outlook remains positive following the company's release of first quarter results for 2003 and the announcement of the sale of its life insurance subsidiaries in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. (Federal Kemper Life Assurance Company, Zurich Life Insurance Company of America, Zurich Life Insurance Company of 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 and related companies). ZFS will retain the ownership of Kemper Investors Life Insurance Company, but parts of its business will be coinsured. First quarter results were in line with A.M. Best's expectations, with a significant improvement in the consolidated combined ratio at 98.2%. In addition--and in line with ZFS's aggressive global profit and capital management improvement program--the company has agreed upon Adj. 1. agreed upon - constituted or contracted by stipulation or agreement; "stipulatory obligations" stipulatory noncontroversial, uncontroversial - not likely to arouse controversy the sale of the U.S. life operations referred above (see Zurich Life U.S. press release). This transaction will contribute to reaffirming ZFS's excellent business position as a general insurer in its selected core markets (Switzerland, Germany, Italy, Spain, United Kingdom and North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. ) and, over time, will enhance the company's excellent consolidated risk-based capitalisation. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
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