A.M. Best Places Ratings of Alea Group's Subsidiaries Under Review.OLDWICK, N.J. -- A.M. Best Co. has placed the financial strength rating of A- (Excellent) and the issuer credit rating of "a-" of the insurance and 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. operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. of Alea Group Holdings (Bermuda) Ltd (Alea) under review with negative implications. The ratings apply to Alea London Limited, Alea (Bermuda) Limited, Alea Europe Limited, Alea North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. Insurance Company, Alea North America Specialty Insurance Company, Alea Global Risk Limited and Alea Jersey Limited. This rating action is based on A.M. Best's opinion that Alea's prospective risk-adjusted capitalisation n. 1. same as capitalization. Noun 1. capitalisation - writing in capital letters capitalization writing - letters or symbols that are written or imprinted on a surface to represent the sounds or words of a language; "he turned the paper is under pressure and that the potential exists for further volatility in prior year loss reserves. The rating will remain under review until A.M. Best can fully assess the situation, although it is expected that Alea will address the prospective capital strain during the third quarter of 2005. 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 http://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 http://www.ambest.com. |
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