A.M. Best Placed Ratings for Primary Insurance Company Limited Under Review.OLDWICK, N.J. -- A.M. Best Co. has placed the financial strength rating of B++ (Very Good) and issuer credit rating of "bbb" (ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. ) for Primary Insurance Company Limited (PICL PICL - Language on Ncube or iPSC machines? ) (Ireland) under review with negative implications. These rating actions follow worse than anticipated financial performance in the last quarter of 2005, driven mainly by reserve strengthening in PICL's commercial small to medium sized enterprise (SME (1) (Small and Medium-sized Enterprise) See SMB. (2) (Subject Matter Expert) An individual who is well-versed in the policies and procedures of a particular department or division. ) account. PICL's ratings will remain under review while A.M. Best assesses the impact of this reserve strengthening on the company's risk adjusted capitalisation. 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. 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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