A.M. Best Upgrades Ratings of Commerce Group Companies.Business/Technology Editors WEBSTER, Mass.--(BUSINESS WIRE)--Jan. 24, 2000 The A.M. Best ratings of The Commerce Group, Inc. and its affiliates, The Commerce Insurance Company and Citation Citation (foaled 1945) U.S. Thoroughbred racehorse. In four seasons he won 32 of 45 races, finished second in ten, and third in two. He won the 1948 Triple Crown, and became the first horse to win $1 million. He set a world record in 1950 by running a mile in 1:33 3/5. Insurance Company of Webster, Massachusetts Webster is a town in Worcester County, Massachusetts, United States. The population was 16,415 at the 2000 census. For geographic and demographic information on the census-designated place Webster, please see the article Webster (CDP), Massachusetts. have been upgraded to A+ (Superior) from A (Excellent). Out of 1,105 groups rated by A.M. Best in 1999, only 126 or 11.4% have received Superior ratings. Commerce President and Chief Executive Officer Arthur J. Remillard, Jr. said that this rating is &uot;a tribute to the overall quality and financial stability of our companies&uot;. In announcing the rating upgrade, A.M. Best noted that this rating reflects the companies' 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. , operating performance and market presence in Massachusetts, derived from the companies' conservative operating strategy, 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. guidelines guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. and agency relations. &uot;As a leading writer of personal lines business in Massachusetts, Commerce benefits from name recognition, a large underwriting database and market knowledge. The rating also recognizes the financial flexibility afforded by the companies' publicly traded holding company, The Commerce Group, Inc.&uot; A.M. Best also raised the rating for Commerce West Insurance Company to A (Excellent) from A- (Excellent). A.M. Best reaffirmed the A (Excellent) rating of American Commerce Insurance Company. Commerce West and American Commerce Insurance Companies are subsidiaries of Commerce Insurance. Commerce West writes business in California. American Commerce Insurance Company is headquartered in Columbus, Ohio Columbus is the capital and the largest city of the American state of Ohio. Named for explorer Christopher Columbus, the city was founded in 1812 at the confluence of the Scioto and Olentangy rivers, and assumed the functions of state capital in 1816. and writes business in 24 states. |
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