A.M. Best Removes Rating of State-Wide Insurance Company From Under Review; Assigns and Upgrades Ratings.OLDWICK, N.J. -- A.M. Best Co. has removed from under review with positive implications the financial strength rating (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) of State-Wide Insurance Company (State-Wide) (Hempstead, NY). A.M. Best has also upgraded the FSR to A+ (Superior) and assigned an issuer credit rating (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 "aa-" to State-Wide. The outlook assigned to all ratings is stable. These rating actions follow the acquisition of State-Wide's parent holding company, SWICO Enterprises, Ltd. (SWICO), by ACIC ACIC Arkansas Crime Information Center ACIC Aeronautical Chart and Information Center (military aviation support organization) ACIC Association of California Insurance Companies (Sacramento, CA) Holding Company Inc., a subsidiary of The Commerce Group Inc. [NYSE NYSE See: New York Stock Exchange : CGI CGI in full Common Gateway Interface. Specification by which a Web server passes data between itself and an application program. Typically, a Web user will make a request of the Web server, which in turn passes the request to a CGI application program. ]. The ratings acknowledge the purchase agreement that includes the pooling of results and the consolidation of State-Wide with Commerce Group (Commerce). Other members of Commerce include The Commerce Insurance Company, Citation Insurance Company (MA), American Commerce Insurance Company (Columbus, OH) and Commerce West Insurance Company (Pleasanton, CA). The ratings of Commerce and its other member companies are unchanged. Unless otherwise specified, all companies are domiciled in Webster, MA. For Best's Debt Ratings, all other Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industries, including the banking and insurance sectors. For more information, visit www.ambest.com. |
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