A.M. Best Places Frontier Insurance Under Review.OLDWICK, N.J.--(BUSINESS WIRE)--Dec. 18, 1998--A.M. Best Co. today placed the "A" (Excellent) ratings of Frontier Insurance Co., Rock Hill, N.Y., and its subsidiary, Frontier Pacific Insurance Co., La Jolla La Jolla (lə hoi`yə), on the Pacific Ocean, S Calif., an uninc. district within the confines of San Diego; founded 1869. The beautiful ocean beaches, in particular La Jolla shores and Black's Beach, and sea-washed caves attract visitors and , Calif., under review with negative implications. The action followed the announcement that Frontier Insurance Group Inc. will be realizing a pre-tax pre-tax adj → anterior al impuesto pre-tax adj → avant impôt(s) pre-tax adj → al lordo d'imposta charge of $150 million in the fourth quarter of 1998. The charge includes a $139 million reserve strengthening, an $8 million 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. charge and a $3 million restructuring charge restructuring charge The expense of reorganizing a company's operations. A restructuring charge is an infrequent expense that generally results from asset writedowns or facility closings. associated with the group's health-care operations. The rating review will focus on the companies' prospective performance and any recapitalization Recapitalization Restructuring a company's debt and equity mixture often with the aim of making a company's capital structure more stable. Notes: Companies often want to diversify their debt-to-equity ratio to improve liquidity. plans it may have. Frontier Insurance Group, Inc. is an insurance holding company that, through its subsidiaries, underwrites specialty insurance products nationally. A.M. Best Co., established in 1899, is America's oldest and most widely recognized insurance rating and information source. For more information, visit A.M. Best's Web site at http://www.ambest.com. |
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