A.M. Best Places Rock River Under Review.Business Editors OLDWICK, N.J.--(BUSINESS WIRE)--Sept. 27, 2001 A.M. Best Co. has placed the financial strength rating of A+ (Superior) for Rock River Insurance Company, Moline, Ill., under review with negative implications. This rating action follows the signing of a definitive agreement for Arch Capital Group Ltd. (NADAQ: ACGL ACGL Arch Capital Group Ltd. ACGL Automobile Corporation of Goa Limited ACGL Alternative County Government Law ) to acquire Rock River. Rock River is a fully reinsured subsidiary of and derives its rating from Sentry Insurance Sentry Insurance, founded in 1904, is a mutual insurance company located in Stevens Point, Wisconsin. It was founded by members of the Wisconsin Retail Hardware Association to provide insurance for its members and was originally called Hardware Mutual. a Mutual Company with an A.M. Best financial strength rating of A+ (Superior). According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the agreement Rock River will now be owned by First American First American may refer to:
Rock River is an approved excess and surplus lines insurer in 45 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). as well as an admitted insurer in two other states. Under the terms of the agreement, existing policies and other liabilities other liabilities Small and relatively insignificant liabilities. For financial reporting purposes, firms often combine small liabilities into this single category rather than listing each liability separately. of Rock River will continue to be reinsured by Sentry Insurance a Mutual Company. Arch Capital Group Ltd. is a Bermuda based, diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment services company with over $500 million in assets. The Arch Group is engaged in a range of insurance and financial services activities through subsidiaries comprising its Arch Services division and the ownership of intermediaries, underwriting agencies, service providers and insurance companies. 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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