A.M. Best Comments on Pending Acquisition of Professionals Direct, Inc.OLDWICK, N.J. -- A.M. Best Co. has commented that the ratings of Professionals Direct Insurance Company (PDIC PDIC Philippine Deposit Insurance Corporation PDIC Professional Diving Instructors Corporation PDIC Parkinson's Disease Information Center PDIC Program Installations by Classification Document PDIC Palestine Development and Investment Company ) (Grand Rapids Grand Rapids, city (1990 pop. 189,126), seat of Kent co., SW central Mich., on the Grand River; inc. 1850. The second largest city in the state, it is a distribution, wholesale, and industrial center for an area that yields fruit, dairy products, farm produce, , MI) and PDIC's parent holding company, Professionals Direct, Inc. (Grand Rapids, MI) (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : PFLD PFLD Protocols for Fast Long-Distance (Networks) PFLD Pipelined Floating Point Load Instruction ) remain unchanged following the recent announcement that Professionals Direct, Inc. will be acquired by Hanover Insurance Hanover Insurance (formerly NASDAQ: HINS) based in Worcester, Massachusetts is one of the oldest continuous businesses in the United States, still operating within its original industry. Group (Hanover) (Worcester, MA). Hanover and Professionals Direct, Inc. have executed a purchase agreement and are entering the regulatory approval process with the transaction expected to close later this year. If the transaction is completed as expected, A.M. Best does not anticipate changes to the ratings of PDIC or Professionals Direct, Inc. and will monitor the progress of this transaction going forward. 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 industries, including the banking and insurance sectors. For more information, visit www.ambest.com. |
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