A.M. Best Rates Ansvar Insurance Co. Ltd.Business Editors OLDWICK, N.J.--(BUSINESS WIRE)--May 2, 2000 A.M. Best Co. has assigned a financial strength rating of B++ (Very Good) to Ansvar Insurance Company Ltd., Eastbourne, England. The rating reflects the company's role as a strategic subsidiary of Ecclesiastical Insurance  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . Office plc--rated A- (Excellent)--and the implicit support and expertise it receives from its parent. Ansvar has a loyal and well-established niche market A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. of total abstainers from drugs and alcohol. It now seeks to broaden this market by providing optimum support to insurance intermediaries who serve not-for-profit organisations including churches and their related activities, charities, voluntary groups and individuals affiliated with such organisations. A.M. Best believes Ansvar's strong presence outside the Anglican Church market enhances Ecclesiastical's overall position in its main class of business. With its change of ownership from Ansvar Group, Sweden, to Ecclesiastical Insurance, the company will have access to the 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. and technical support of its parent that has policyholder Policyholder An individual who owns an insurance policy. surplus in excess of (pound)180 million ($1 = (pound)0.643). Historically, weak underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. performance in motor and a diminishing pool of qualified customers restricted Ansvar's growth opportunities. Today, motor is a much less significant part of its portfolio and the company is developing a strategy to widen wid·en tr. & intr.v. wid·ened, wid·en·ing, wid·ens To make or become wide or wider. wid  en·er n. its market base. Ansvar remains an independent insurer. The aim of the strategic integration into the Ecclesiastical Insurance Group is to provide services in specialist areas of functional support while improving cost effectiveness and raising overall expertise. 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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