A.M. Best Places Ratings of QBE Re Group - U.S. and Praetorian Financial Group Under Review.OLDWICK, N.J. -- A.M. Best Co. has placed the financial strength ratings (FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current applications. Every open window takes some space in this area. See Windows memory limitation. ) of A (Excellent) and the issuer credit ratings (ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. ) of "a" of QBE (Query By Example) A method for describing a database query originally developed by IBM for mainframes. A replica of an empty record is displayed and the search conditions are typed in under their respective columns (fields). Re Group - U.S. (QBE Re) (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 , NY) and its members under review with negative implications. A.M. Best has also placed the FSR of A- (Excellent) and the ICR of "a-" for Praetorian Financial Group (Wilmington, DE) and its members under review with developing implications. These rating actions follow the announcement that QBE 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. Corporation (Philadelphia, PA) intends to acquire Praetorian Financial Group from Hannover Rueckversicherung AG (Hannover, Germany). The ratings will remain under review pending A.M. Best's review of the QBE Re transaction, integration plan and risk-adjusted capital position upon completion of the deal. The transaction is expected to close in the second quarter of 2007, subject to regulatory approval. A.M. Best expects a level of support to be provided by QBE Re's ultimate parent, QBE Insurance QBE Insurance Group Limited ASX: QBE is an Australian based general insurance provider, providing insurance services mainly to the Asia Pacific region, but also America and Europe. It has offices in 44 countries. Group Limited, to fund the transaction. Although a significant level of 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. is still to be completed by A.M. Best, based on the information disclosed, it is likely that the ratings of QBE Re and Praetorian Financial Group will be affirmed. The FSR of A- (Excellent) and the ICR of "a-" have been placed under review with developing implications for the following members of Praetorian Financial Group: * Praetorian Insurance Company * Redland Insurance Company The FSR of A (Excellent) and the ICR of "a" have been placed under review with negative implications for the following members of QBE Re Group - U.S.: * QBE Reinsurance Corporation * QBE Insurance Corporation * QBE Specialty Insurance Company The ratings of QBE Insurance Group Limited and the following subsidiaries are unchanged: * QBE Insurance (Europe) Limited * QBE Insurance (International) Ltd. * QBE Reinsurance (Europe) Limited The ratings for Hannover Rueckversicherung AG are unchanged. For Best's Ratings, 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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