A.M. Best Places Ratings of DuraRock Reinsurance, Ltd. Under Review with Negative Implications.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. , Ltd. (DuraRock) (Barbados) under review with negative implications.
The rating actions reflect the deterioration de·te·ri·o·ra·tion
The process or condition of becoming worse. in DuraRock's risk-adjusted capitalization capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. , primarily due to the decline in market value of one large equity investment. DuraRock is assessing options to restore its capital position over the near term. The ratings will remain under review pending A.M. Best's evaluation of DuraRock's capital solution to determine if risk-adjusted capitalization can be restored to levels commensurate com·men·su·rate
1. Of the same size, extent, or duration as another.
2. Corresponding in size or degree; proportionate: a salary commensurate with my performance.
3. with its current ratings.
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.
The principal methodologies used in determining these ratings, including any additional methodologies and factors, which may have been considered, can be found at www.ambest.com/ratings/methodology.
Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.
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|Date:||Feb 20, 2009|
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