A.M. Best Downgrades and Assigns Ratings to Stockbridge Insurance Company.OLDWICK, N.J. -- A.M. Best Co. has downgraded the financial strength rating (FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current applications. Every open window takes some space in this area. See Windows memory limitation. ) to A- (Excellent) from A+ (Superior) and assigned an issuer credit rating of "a-" to Stockbridge Insurance Company (formerly Mutual Service Casualty Insurance Company) (Stockbridge) (St. Paul St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery , MN). The outlook for both ratings is stable. These rating actions reflect the excellent capitalization and current run-off status of Stockbridge and the acquisition of it by Folksamerica Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. Company (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ) from COUNTRY Insurance & Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. (COUNTRY) (Illinois). As part of the transaction, the former Mutual Service Casualty Insurance Company was demutualized and converted to a stock company and given the current name. In addition, COUNTRY, a member of COUNTRY Companies', provided Stockbridge with approximately $25 million of reinsurance protection in excess of Stockbridge's carried reserves as of September 30, 2006. 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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