A.M. Best Withdraws Ratings of Valiant Insurance Company.OLDWICK, N.J. -- A.M. Best Co. has withdrawn the financial strength rating of A (Excellent) and the issuer credit rating of "a+" and assigned a category NR-5 (Not Formally Followed) to Valiant Insurance Company (Valiant) (Des Moines Des Moines, city, United States Des Moines (dĭ moin`), city (1990 pop. 193,187), state capital and seat of Polk co., S central Iowa, at the junction of the Des Moines and Raccoon rivers; inc. , IA). Effective October 1, 2007, Maryland Casualty Company (MCC (The Microelectronics and Computer Technology Corporation, Austin, TX) The first high-tech research and development consortium in the U.S., created in 1982 by leading companies within the electronics industry. ) (Baltimore, MD) sold Valiant to the privately held Ariel Holdings, Ltd. (Ariel) (Hamilton, Bermuda). Valiant had been a wholly owned stock subsidiary of MCC. MCC's ultimate owner is Zurich Financial Services Zurich Financial Services Group is a major financial services group based in Zurich, Switzerland. Global operations North America The US consumer market is served primarily by Farmers Insurance Group the third largest personal lines property & casualty insurance (ZFS (1) (Zettabyte File System) A distributed file system from Sun that was added to OpenSolaris in 2005 and Solaris 10 in 2006. With support for 128 bits, compared to 64 for NTFS and other contemporary file systems, storage capacity is unlimited for all practical ) (Zurich, Switzerland), which is publicly traded on the Swiss Stock Exchange under the symbol ZURN. Valiant was sold as a shell with all liabilities assumed by Zurich American Insurance Company (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 , NY). Valiant had been largely inactive since 2003 in anticipation of its sale. 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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