A.M. Best Downgrades and Assigns Ratings to Teachers Auto Insurance Company of New Jersey Due to Acquisition.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 B++ (Good) from A- (Excellent) and assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. an issuer credit rating of "bbb" to Teachers Auto Insurance Company of New Jersey (Teachers) (Red Bank, NJ), formerly known as Lancer Casualty Company (Long Beach, NY). The outlook for both ratings is stable. These rating actions are a result of Teachers' acquisition by the High Point Group (Red Bank, NJ). Concurrently, the FSR of B++ (Good) has been affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. and ICRs of "bbb" have been assigned to High Point Group and its members. The outlook for these ratings is stable. The FSR of B++ (Good) has been affirmed and ICRs of "bbb" have been assigned to the High Point Group and its following members: * High Point Preferred Insurance Company * High Point Property and Casualty Insurance Company * High Point Safety and Insurance Company * Twin Lights Insurance Company 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. Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the 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. industries, including the banking and insurance sectors. For more information, visit www.ambest.com. |
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