A.M. Best Revises Outlook to Positive for Gateway Insurance Company.OLDWICK, N.J. -- A.M. Best Co. has revised the outlook to positive from stable and affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. the financial strength rating of B+ (Good) and issuer credit rating of "bbb-" of Gateway Insurance Company (Gateway) (St. Louis Louis, titular duke of Burgundy Louis, 1682–1712, titular duke of Burgundy; grandson of King Louis XIV of France. He became heir to the throne on the death (1711) of his father, Louis the Great Dauphin. , MO). The ratings reflect Gateway's solid risk-adjusted capitalization capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. , sound historical operating results on its core book of business, improved consolidated operating results in recent years and the financial flexibility provided by its owner, Hendricks Hendricks is a surname, and may refer to
These strengths are offset by losses driven by the run off of various lines of business entered into by prior ownership (albeit lower in recent years) as well as the execution risk associated with Gateway's planned growth into new territories and new lines of business, especially at a time of increased competitive pressures throughout the commercial lines sector. The positive outlook reflects A.M. Best's expectation that Gateway's improved operating results and risk-adjusted capitalization will continue to trend favorably fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. as management implements new products and continues its geographical expansion. 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. Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com. |
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