A.M. Best Places Gryphon Insurance Group's "A-" Rating Under Review.NEW YORK--(BUSINESS WIRE)--Nov. 25, 1998--A.M. Best Co. today placed the "A-" (Excellent) ratings of the Gryphon Insurance Group, 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 -- including the recently acquired First 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 of Hartford Hartford, city (1990 pop. 139,739), state capital, Hartford co., central Conn., on the west bank of the Connecticut River; settled as Newtown 1635–36 on the site of a Dutch trading post (1633; abandoned 1654), inc. 1784. -- under review with developing implications. The action follows the announcement that Markel Markel Corporation is an insurance holding company. Never declaring a stock split, their stock has risen from $8.33 per share in its 1986 IPO to over $475 a share in 2007. Corp., Glen Allen Glen Allen is the name of several places in the United States of America:
A.M. Best review will focus on the integration of Gryphon's operations into those of Markel -- particularly as they relate to expense-saving opportunities, modifications to Gryphon's book of business and current operations, and future strategic plans. Markel and Gryphon have complementary product lines and distribution channels. The combination of the two organizations will result in operational and expense efficiencies at the Gryphon units and expand Markel's product offering and geographic presence in certain territories. A.M. Best expects to conclude its review upon the close of the transaction, which is expected to occur in the first quarter of 1999. In addition to First Reinsurance, the "A-" rated Gryphon subsidiaries affected by the action are Calvert Cal·vert Family of English colonists in America, including George (1580?-1632), First Baron Baltimore; his son Cecilius (1605-1675), Second Baron and recipient of the Maryland charter; another son, Leonard Insurance Co., Philadelphia, and Associated International Insurance Co., Woodland Hills, Calif. 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 |
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