American Public Life Insurance Rated 'BBpi' by S&P.NEW YORK--(BUSINESS WIRE)--Standard & Poor's-- Sept. 17, 1999-- Standard & Poor's today assigned its double-'Bpi' financial strength rating to American Public Life Insurance Co. Based in Jackson, Miss., American Public Life is a stock company licensed in 25 states. Its major lines of business are group and individual accident and health, including dental and dread disease dread disease A disease with a significant impact on lifestyle–eg, multiple sclerosis, longevity–eg AIDS, CA, which incurs high costs–eg, extensive burns, persistent vegetative state, and/or cause significant and permanent residual morbidity, ie policies. The company, which represents itself primarily through agents, commenced operations in 1946. Only 18% of the company's business is conducted outside its major states of Louisiana CODE, OF LOUISIANA. In 1822, Peter Derbigny, Edward Livingston, and Moreau Lislet, were selected by the legislature to revise and amend the civil code, and to add to it such laws still in force as were not included therein. , Mississippi, Texas, Oklahoma, and Arkansas. The following factors were incorporated in the rating: -- 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. is less than good, as indicated by Standard & Poor's capital adequacy ratio Capital adequacy ratio (CAR), also called Capital to Risk (Weighted) Assets Ratio (CRAR)[], is a ratio of a bank's capital to its risk. National regulators track a bank's CAR to ensure that it can absorb a reasonable amount of loss. of 90.8%. -- The company is rated on stand-alone characteristics and is not affiliated with any insurance group. -- The company's business position is limited given the company's narrow scope and relative size ($8.9 million in total adjusted capital). -- The company has very volatile earnings with respect to current capital levels. -- The geographic and product line concentration for this company is moderately high with 31% of direct business in Louisiana. 'Pi' ratings, denoted with a pi subscript (1) In word processing and scientific notation, a digit or symbol that appears below the line; for example, H2O, the symbol for water. Contrast with superscript. (2) In programming, a method for referencing data in a table. , are insurer financial strength ratings based on an analysis of an insurer's published financial information and additional information in the public domain. They do not reflect in-depth meetings with an insurer's management and are therefore based on less comprehensive information than ratings without a pi subscript. Pi ratings are reviewed annually based on a new year's financial statements, but may be reviewed on an interim basis if a major event that may affect the insurer's financial security occurs. Ratings with a pi subscript are not subject to potential CreditWatch listings. Ratings with a pi subscript generally are not modified with 'plus' or 'minus' designations. However, such designations may be assigned when the insurer's financial strength rating is constrained con·strain tr.v. con·strained, con·strain·ing, con·strains 1. To compel by physical, moral, or circumstantial force; oblige: felt constrained to object. See Synonyms at force. 2. by sovereign risk Sovereign Risk The risk that a foreign central bank will alter its foreign-exchange regulations thereby significantly reducing or completely nulling the value of foreign-exchange contracts. or the credit quality of a parent company or affiliated group, Standard & Poor's said.---CreditWire |
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