A.M. Best Withdraws Rating of Financial Insurance Exchange due to Dissolution of Legal Entity.OLDWICK, N.J. -- A.M. Best Co. has withdrawn the financial strength rating of A (Excellent) and the issuer credit rating of "a" of Financial Insurance Exchange (FIE fie interj. Used to express distaste or disapproval. [Middle English fi, from Old French, of imitative origin. ) (Austin, TX) and assigned an NR-5 (Not Formally Followed). The company had been an affiliate of Assurant, Inc. (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York) [NYSE NYSE See: New York Stock Exchange : AIZ AIZ Lake of the Ozarks, Missouri (Lee C. Fine Memorial Airport) AIZ Air Intercept Zone AIZ Anti Imperialistische Zelle(n) (German: Anti-Imperialistic Cell; now defunct terrorist group) ]. Effective November 25, 2006, in an order issued by the Texas Commissioner of Insurance, FIE was dissolved. Prior to the dissolution, FIE had all of its business reinsured by American Bankers Insurance Company of Florida, an affiliate. For Best's Ratings, 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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