A.M. Best Takes Various Rating Actions on Trans World Assurance, American Fidelity Life and TransAm Assurance and Removes All Ratings from Under Review.OLDWICK, N.J. -- A.M. Best Co. has downgraded the financial strength rating to B++ (Very Good) from A- (Excellent) of Trans World Trans World is an economic simulation game for the Commodore 64 published by Starbyte Software in 1990. The player takes control of a new trucking company and competes against up to either three other human or computer players to make the most money. Assurance Company (Trans World) (San Mateo San Mateo (săn mətā`ō), city (1990 pop. 85,486), San Mateo co., W Calif., on San Francisco Bay; inc. 1894. It is a commercial and retail center with some high-technology manufacturing. San Mateo, Spanish for St. , CA). A.M. Best has also 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 ratings of B++ (Very Good) and B+ (Very Good) of American Fidelity Life Insurance Company (Pensacola, FL) and TransAm Assurance Company (Phoenix, AZ), respectively. All ratings have been removed from under review with negative implications and assigned a stable outlook. These rating actions reflect the conclusion of A.M. Best's evaluations of the adverse publicity within the military base life insurance market surrounding improper sales practices by some agents with enlisted military personnel. A.M. Best believes these companies may be minimally impacted with respect to sales production and operating results in their core military life insurance business due to investigations by regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities and other constituencies. However, A.M. Best will continue to monitor the military life insurance industry and the ongoing market conduct examinations and remedies by regulatory authorities and the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Congress. In addition, the rating action on Trans World is based on the challenges it has encountered in recent years with respect to premium growth and statutory operating earnings Operating Earnings Profits after subtracting expenses such as marketing, cost of goods sold, administration and general operating costs from revenue. Notes: Tax and interest expenses are not subtracted - operating earnings are synonymous with EBIT (earnings before . Nonetheless, its risk-adjusted capitalization remains more than adequate as a result of its high quality investments and surplus growth. 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 http://www.ambest.com. |
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