A.M. Best Places Rating of The Citadel General Assurance Company Under Review with Developing Implications.OLDWICK, N.J. -- A.M. Best Co. has placed the financial strength rating of B++ (Very Good) of The Citadel General Assurance Company (Citadel) (Toronto, Canada) under review with developing implications. This rating action follows the announcement by AXA AXA Anguilla, Anguilla (Airport Code) AXA Alpha Chi Alpha AXA Animal Crossing Ahead (online forum community/guide to the game Animal Crossing) AXA Auxiliary Artery Canada Inc. (AXA Canada) (Montreal, Canada) that it intends to acquire Citadel from Winterthur Swiss Insurance Company (Switzerland), a subsidiary of Credit Suisse The Credit Suisse Group (SWX:CSGN, NYSE: CS) is a financial services company, headquartered in Zürich, Switzerland. It is the second-largest Swiss bank, behind UBS AG. . The ratings of AXA Canada's property/casualty insurance subsidiaries remain unchanged at this time. Citadel writes personal and commercial lines, with a niche specialization A career option pursued by some attorneys that entails the acquisition of detailed knowledge of, and proficiency in, a particular area of law. As the law in the United States becomes increasingly complex and covers a greater number of subjects, more and more attorneys are in accident and sickness insurance. The company writes business throughout Canada, with Ontario representing its largest market. AXA Canada is a leading provider of personal and commercial insurance products in Canada, with primary concentrations in Quebec, Ontario and British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography . In 2004, AXA Canada had CAD 2.914 million in assets and CAD 605 million in shareholder's equity. The acquisition of Citadel, which is estimated to cost between CAD 305 million and CAD 310 million, would place AXA Canada within the top six private insurers in Canada based on 2004 direct premiums written. A.M. Best will continue its due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. on the transaction as details are made available. 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. For current Best's Ratings, independent data and analysis on more than 3,000 individual property/casualty companies and A.M. Best groups, please visit www.ambest.com/pc. 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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