A.M. Best Downgrades Rating of Life and Health Insurance Company of America.OLDWICK, N.J. -- A.M. Best Co. has downgraded the financial strength rating to F (In Liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy ) from D (Poor) of Life and Health Insurance Company of America America [for Amerigo Vespucci], the lands of the Western Hemisphere—North America, Central (or Middle) America, and South America. The world map published in 1507 by Martin Waldseemüller is the first known cartographic use of the name. (Plymouth Meeting, PA). This rating action follows the Pennsylvania Pennsylvania (pĕnsəlvā`nyə), one of the Middle Atlantic states of the United States. It is bordered by New Jersey, across the Delaware River (E), Delaware (SE), Maryland (S), West Virginia (SW), Ohio (W), and Lake Erie and New York Insurance Department's placing Life and Health under an order of liquidation, effective July 2, 2004. On April 16, 2004, A.M. Best downgraded this insurance company's financial strength rating to D (Poor) from C (Weak) because of its sizeable losses and its deteriorated capital and surplus position. The rating outlook was negative. For current 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. , independent data and analysis on more than 1,050 health companies and more than 130 HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, industry composites, please visit http://www.ambest.com/health/. 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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