A.M. Best Withdraws Ratings of Gerling-Konzern Allgemeine Versicherung AG Following Merger Into HDI-Gerling Industrie Versicherung AG.OLDWICK, N.J. -- A.M. Best Co. has withdrawn the financial strength rating (FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current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. ) of A (Excellent) and issuer credit rating (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. ) of "a" of Gerling-Konzern Allgemeine Versicherung AG (GKA GKA Goroka, Papua New Guinea - Goroka (Airport Code) GKA Global Key Account ) and assigned a category NR-5 (Not Formally Followed) following its merger into HDI-Gerling Industrie Versicherung AG (HGIV) (formerly known as HDI Industrie Versicherung AG). The FSR of A (Excellent) and ICR of "a" of HGIV remain unchanged. HGIV has assumed all of GKA's liabilities, and consequently, the debt rating of "bbb+" on the 250 million Euro subordinated fixed to floating rate notes due 2024 originally issued by GKA and the FSR of A (Excellent) and ICR of "a" of Gerling America Insurance Company (GAIC GAIC Great American Insurance Company GAIC German American Internee Coalition (New London, New Hampshire) GAIC Generalized Akaike Information Criterion GAIC Gallium Arsenide Integrated Circuit GAIC Gulf Asia International Company ) also remain unchanged. GAIC continues to benefit from a full rating enhancement due to the 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. support now provided by HGIV. 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 healthcare service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com. |
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