A.M. Best Upgrades Public Data Rating of Liberty Mutual Insurance Europe Limited.OLDWICK, N.J. -- A.M. Best Co. has upgraded the public data rating to A- (Excellent) from B+ (Very Good) of Liberty Mutual Insurance Europe Limited (LMIEL) (United Kingdom). Public data (pd) ratings reflect a quantitative analysis Quantitative Analysis A security analysis that uses financial information derived from company annual reports and income statements to evaluate an investment decision. Notes: of a company's results based on publicly available financial information. A.M. Best's pd ratings do not include analysis based on interaction with insurance company management or non-public financial information. The rating of LMIEL has been upgraded to reflect explicit support from Liberty Mutual Insurance Company (Massachusetts) in the form of a public guarantee of payment in respect of policyholder Policyholder An individual who owns an insurance policy. liabilities. In addition, the rating reflects LMIEL's very good risk-adjusted capitalisation and the improvement in its combined ratio in recent years (reduced from 105.8% in 2003 to 100.3% in 2004), although it has been reliant upon investment income to offset 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. losses. The company's business portfolio is well-diversified by business class including marine, aviation, property, third party liability and 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. business. LMIEL's gross written premium income increased by 22.4% at year-end 2004 to USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 734 million, derived from its offices in the United Kingdom, Germany, Ireland, France, Switzerland and Singapore. 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. 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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