A.M. Best Affirms and Assigns Ratings to Pekin Life Insurance Company.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 assigned an issuer credit rating (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-" to Pekin Pekin (pē`kĭn), city (1990 pop. 32,254), seat of Tazewell co., central Ill., a port on the Illinois River; inc. 1839. A processing, rail, and shipping point in a grain, livestock, and dairying area, Pekin has a large food industry. Life Insurance Company (Pekin, IL) [OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : PKIN.OB]. The outlook for both ratings is stable. The ratings reflect Pekin Life's integral role within the Pekin Insurance Group, strong risk-adjusted capitalization, consistently positive net statutory operating results and diversified lines of business that support the company's varied target markets in its core regional geographical areas of five Midwest states. Pekin Life has been a significant contributor to its property/casualty-based parent organization and continues to add value on a long-term basis. Over the past five years, Pekin Life has recorded consistent new business growth from its ordinary life segment despite the challenging life insurance environment. Somewhat offsetting these positive factors are Pekin Life's high reliance on the parent company's distribution platform, geographical concentration risk and a trend of mixed operating results from its diverse lines of business. However, its net gains from operations have remained positive in each of the past five years, helping the company to organically grow its capital and surplus funds Surplus funds Cash flow available after payment of taxes in a project. . For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industries, including the banking and insurance sectors. For more information, visit www.ambest.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion