A.M. Best Places Ratings of Glacier Reinsurance AG Under Review.OLDWICK, NEW JERSEY Oldwick is an unincorporated area within Tewksbury Township in Hunterdon County, New Jersey, United States. The area is served as United States Postal Service ZIP Code 08858. As of the United States 2000 Census, the population for ZIP Code Tabulation Area 08858 was 177. -- A.M. Best Co. has placed the financial strength rating of A- (Excellent) and the issuer credit rating of "a-"of Glacier glacier, moving mass of ice that survives year to year, formed by the compacting of snow into névé and then into granular ice and set in motion outward and downward by the force of gravity and the stress of its accumulated mass. 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. AG (Glacier Re) (Switzerland) under review with negative implications. The rating action is due to Glacier Re's 2005 year-end net loss, which was in excess of A.M. Best's expectations as a result of higher than anticipated exposure to 2005 hurricane losses. In addition, A.M. Best believes Glacier Re's natural catastrophe Catastrophe, from the Greek Καταστροφή (katastrephein), literally means "to turn" (strephein) "downwards" (kata-). exposure in 2006 is also higher than previously anticipated. The current ratings will remain under review with negative implications in order to assess the potential impact on Glacier Re's 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 and pending further discussion with the company regarding catastrophe risk management and the restoration of its risk-adjusted capitalisation. A.M. Best closely monitors new company formations. Any deviations in earnings, capitalisation, risk profile or management from the presentations made in the business plans used by A.M. Best to issue initial ratings are analysed for the effect these have on the company's ability to meet financial obligations. 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. 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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