A.M. Best Consolidates Canadian Operations.Business Editors OLDWICK, N.J.--(BUSINESS WIRE)--Jan. 10, 2003 A.M. Best Co. announced today that it will consolidate all Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. operations previously conducted by its Toronto Toronto (tərŏn`tō), city (1998 est pop. 2,400,000), provincial capital, S Ont., Canada, on Lake Ontario. Toronto is the largest city in Canada and since the 1970s has been one of the fastest-changing cities in North America, experiencing office into its corporate headquarters in Oldwick, New Jersey Oldwick is an unincorporated area within Tewksbury Township in Hunterdon County, New Jersey, United States. The area is served as United States Postal Service ZIP Code 08858. As of the United States 2000 Census, the population for ZIP Code Tabulation Area 08858 was 177. . The objective of the closing is to streamline its Canadian rating and data reporting operations, which included many overlapping and redundant activities. The Toronto office was obtained through the acquisition of TRAC TRAC - Text Reckoning And Compiling Insurance Services in June 1999. The closing of the Toronto office will be effective June 30, 2003. While Canadian rating activities have largely been conducted out of Oldwick, in recent years data collection and product activities had been handled in Toronto. After the closing, all of these operations will be handled by staff in Oldwick. A.M. Best's Toronto office will remain open through June 30 to ensure an orderly orderly /or·der·ly/ (or´der-le) an attendant in a hospital who works under the direction of a nurse. or·der·ly n. An attendant in a hospital. transition of activities. A.M. Best remains committed to the Canadian insurance market, where it currently has ratings on virtually all Canadian life and property/casualty insurance companies and Canadian branches of foreign companies. Companies rated by A.M. Best will continue to be followed by the same Oldwick-based analytical analytical, analytic pertaining to or emanating from analysis. analytical control control of confounding by analysis of the results of a trial or test. team as before. In addition, Best's analytical team will continue to provide detailed financial reports on all rated companies and will publish detailed research reports on various industry topics. These ratings and special research reports will remain available through the company's Canadian web site, www.ambest.ca. 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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