A.M. Best Revises Outlook to Positive for Greenville Casualty Insurance Company.OLDWICK, N.J. -- A.M. Best Co. has 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 (Fair) and issuer credit rating of "bb+" of Greenville Casualty Insurance Company (Greenville) (Greer, SC). The outlook for both ratings has been revised to positive from stable. The rating affirmations reflect Greenville's premium volatility, historically elevated expense structure and product and geographic concentrations, which are characteristics of its limited business profile. However, these rating factors are partially offset by Greenville's low 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. leverage, favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. loss experience and highly liquid balance sheet. The positive outlook reflects A.M. Best's expectation that Greenville's improved operating results and level of 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 its gradual product and geographic 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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