A.M. Best Comments on Mercer Insurance Group's Purchase of Financial Pacific Insurance.OLDWICK, N.J. -- A.M. Best Co. has commented that the financial strength rating of A (Excellent) and the stable rating outlook on the subsidiaries of Mercer mer·cer n. Chiefly British A dealer in textiles, especially silks. [Middle English, from Old French mercier, trader, from merz, merchandise, from Latin merx Insurance Group, Inc. (MIGP MIGP Military Intelligence Group MIGP Multicast Interior Gateway Protocol ) (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) (Pennington, NJ) remain unchanged following the announcement of its acquisition of Financial Pacific Insurance Group, Inc. (Financial Pacific) (Sacramento, CA), a writer of commercial property/casualty lines in the Western region of 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. . The financial strength rating of A- (Excellent) and the negative rating outlook on Financial Pacific's insurance subsidiary, Financial Pacific Insurance Company (Sacramento, CA), also remain unchanged. A.M. Best believes that the proposed acquisition of Financial Pacific for approximately $40.4 million in cash is consistent with MIGP's long-term objectives of strategically developing its commercial lines segment and its product and geographic diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. . Financial Pacific is a specialty writer of commercial lines doing business primarily in California, Nevada, Oregon and Utah. MIGP is a holding company--which through its insurance subsidiaries--offers commercial and personal lines products to businesses and individuals in Pennsylvania and New Jersey. 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 http://www.ambest.com/ratings. For current Best's Ratings, independent data and analysis on more than 3,000 individual property/casualty companies, groups and industry composites, please visit http://www.ambest.com/pc. 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 http://www.ambest.com. |
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