A.M. Best Upgrades Ratings of Companion Property and Casualty Group.OLDWICK, N.J. -- A.M. Best Co. has upgraded the financial strength rating (FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current applications. Every open window takes some space in this area. See Windows memory limitation. ) to A (Excellent) from A- (Excellent) and the issuer credit ratings (ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. ) to "a" from "a-" of the Companion Property and Casualty Group (Companion), which consists of Companion Property and Casualty Insurance Company (Columbia, SC) and its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Companion Commercial Insurance Company (Columbia, SC). The rating outlook has been revised to stable from positive. The upgrades reflects the group's solid capitalization, improved underwriting and operating performance, more favorable reserve development trends as well as prudently managed geographic and product diversification initiatives through its "fee for service" business. The rating also recognizes the significant financial support and flexibility provided by its parent, Blue Cross and Blue Shield Blue Shield A US not-for-profit health care insurer that is a reimbursement intermediary for physicians. Cf Blue Cross. of South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. , which has contributed substantial amounts of capital in recent years in support of premium growth and expansion initiatives. Offsetting these positive rating factors is the historical volatility Historical Volatility The past standard deviation of a security that is used in security analysis. Standard deviation measures the changes in the past price of a security the higher the standard deviation the more volatile the security. in underwriting performance and capitalization primarily due to adverse loss reserve development. The rating outlook reflects the group's improving underwriting fundamentals, organic growth in surplus and financial flexibility afforded by its parent. For Best's Ratings, 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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