A.M. Best Comments on the Acquisition of the Aon Warranty Group.OLDWICK, N.J. -- A.M. Best Co. has announced that the ratings of Virginia Surety An individual who undertakes an obligation to pay a sum of money or to perform some duty or promise for another in the event that person fails to act. surety n. Company, Inc. (Chicago, IL) and FFG FFG Forschungsförderungsgesellschaft (German: Austrian research promotion agency) FFG Flash Flood Guidance FFG Guided Missile Frigate FFG Fall from Grace (band) FFG Fast Frigates FFG Freeware Flight Group Insurance Company (Texas), which together form the Virginia Surety Group and Resource Life Insurance Company (Illinois), remain unchanged following the announcement by Aon Corporation that it has reached a definitive agreement to sell AON Warranty Group to Onex Corporation Onex Corporation TSX: OCX is a Toronto based investment firm. It was founded in 1983 by Gerry Schwartz. Today it is a publicly traded company but Schwartz has 67.6% of the voting control and continues to serve as Chairman and CEO. , a company headquartered in Toronto, Ontario. The transaction is expected to close in fourth-quarter 2006, pending regulatory approvals. 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. 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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