A.M. Best Comments on the Financial Strength Ratings of Zurich Financial Services Group and Its Core Subsidiaries.Business Editors OLDWICK, N.J.--(BUSINESS WIRE)--Nov. 19, 2003 A.M. Best Co. has commented on 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 Switzerland (swĭt`sərlənd), Fr. Suisse, Ger. Schweiz, Ital. Svizzera, officially Swiss Confederation, federal republic (2005 est. pop. 7,489,000), 15,941 sq mi (41,287 sq km), central Europe. ) and its core subsidiaries following the release of third quarter results for 2003. These financial strength ratings remain unchanged after announced earnings--in line with A.M. Best's expectations--of USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1.4 billion (an improvement of USD 4.2 billion year-on-year) and a reduced consolidated con·sol·i·date v. con·sol·i·dat·ed, con·sol·i·dat·ing, con·sol·i·dates v.tr. 1. To unite into one system or whole; combine: combined ratio of 98.2% (114.8% over the same period in 2002). The outlook remains positive. A.M. Best continues to be concerned about the weak performance of Bermuda-based Centre Solutions Ltd (the rating is currently under review with negative implications). Centre's reserves were strengthened USD 354 million before tax at third quarter 2003. ZFS does not anticipate further adverse development, but A.M. Best will continue to closely monitor Centre's reserve position. 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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