Best's Rating Changes.This summary of Best's Rating Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. Changes includes life, health-care and property/casualty insurers domiciled dom·i·cile n. 1. A residence; a home. 2. One's legal residence. v. dom·i·ciled, dom·i·cil·ing, dom·i·ciles v.tr. 1. in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , as well as international insurers that had ratings assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. , changed or placed under review since this section last appeared in the April 2004 edition of Best's Review. Best's Rating Changes is an abbreviated version of Best's Rating Monitor, which is published in BestWeek, our weekly insurance industry newsletter. See page 17 for the current Guide to Best's Financial Strength Ratings or visit the A.M. Best Co. Web site at www.ambest.com/ratings/guide.html for detailed rating definitions. The A.M. Best rating of any company and basic company information are also available free of charge at the Web site.
Ratings Changed
Rating Current Previous
Action Company Name & Domicile AMB# Rating Rating
Life/Health
+ American Community Mutual 06044 B B-
Insurance Co
US: Michigan
American Medical Security Ins Co 09451 NR-3 A-
of GA
US: Georgia
Capitol Life Insurance Company 06186 E NR-3
US: Texas
Catholic Knights 08188 NR-5 A-
US: Wisconsin
+ Central Reserve Life Insurance 06203 B+ B
Company
US: Ohio
- Centre Life Insurance Company 07367 B+ u A- u
US: Massachusetts
+ Christian Fidelity Life 06217 B- C+
Insurance Co
US: Texas
New Family Heritage Life Ins Co of 68197 B++ NR-1
America
US: Ohio
- Fidelity Lf Assn A Mut Legal 06386 A- A u
Reserve Co
US: Illinois
+ Hartford Life Group Insurance 07681 A+ A u
Company
US: Illinois
Holy Family Society of USA 09779 NR-5 B++
US: Illinois
- Life and Health Insurance Co of 08070 C C++
America
US: Pennsylvania
+ Mayflower National Life 07305 B B-
Insurance Co
US: Indiana
+ National Capital Life Insurance 68193 B B-
Company
US: Texas
- National Health Insurance 08392 E C u
Company
US: Texas
+ North American Insurance Company 60015 B- C+
US: Wisconsin
- Old Standard Life Insurance 68103 E C
Company
US: Idaho
- Old West Annuity & Life 07957 E C
Insurance Co
US: Arizona
+ Oxford Life Insurance Company 07890 B- C+
US: Arizona
+ Security Plan Life Insurance 07450 B B-
Company
US: Louisiana
+ Stonebridge Life Insurance 06594 A+ A
Company
US: Vermont
Sun States Life Insurance 08025 NR-5 A-
Company
US: Delaware
Western Hemisphere Life 09450 NR-5 B++
Insurance Co
US: Delaware
- Western United Life Assurance 08077 E C
Company
US: Washington
XL Life Insurance and Annuity 08830 NR-5 A- u
Company
US: Illinois
HMO
Great Lakes Health Plan Inc 64439 NR-2 D pd
US: Michigan
United Concordia Dent Plans of 65700 NR-2 A-
MidW (MI)
US: Michigan
United Concordia Dental Plans of 65702 NR-2 A-
KY Inc
US: Kentucky
Property/Casualty
- Allianz Insurance Company of
Canada 86187 A- A
Canada: Ontario
New Allstate New Jersey Insurance
Group 18630 A-
US: Illinois
+ American Compensation Insurance
Company 11419 B+ B
US: Minnesota
- American Concept Insurance
Company 03606 B+ u A-
US: Rhode Island
New American Fuji F & M Ins Co 02755 B++ NR-3
US: Illinois
American Nat'l Lawyers Ins Recip
(RRG) 11383 NR-5 F
US: Tennessee
- Blue Ridge Indemnity Company 02839 A- A u
US: Wisconsin
- Blue Ridge Insurance Company 02420 A- A u
US: Wisconsin
- Centre Insurance Company 12237 B+ u A- u
US: Delaware
Colorado Western Insurance
Company * 11073 NR-4 C+
US: Colorado
Commonwealth Medical Liability
Ins Co 11121 NR-5 A-
US: Dist. Of Columbia
New Consumer Specialties Insurance
Co RRG 11281 B+ NR-1
US: Vermont
- Cumberland Casualty & Surety
Company 10601 E B+
US: Florida
Doctors Insurance Recip RRG 11111 NR-5 F
US: Tennessee
Eagle Insurance Group (WA) 18007 NR-5 D
US: Washington
Eagle Pacific Insurance Company 03803 NR-5 D
US: Washington
+ Financial Insurance Company of
America 00211 B- C+
US: Texas
- First Nonprofit Insurance
Company 10856 B++ A-
US: Illinois
- Firstline National Insurance
Company 10633 A- A
US: Maryland
- Forestry Mutual Insurance
Company 12251 B- u B+
US: North Carolina
- Fremont Indemnity Company 02255 F E
US: California
- General Casualty Companies 04927 A A u
US: Wisconsin
- General Casualty Company of
Illinois 04242 A- A u
US: Illinois
- General Casualty Company of
Wisconsin 02416 A- A u
US: Wisconsin
- Hanford Mutual Insurance
Companies 18009 A- A
US: Maryland
- Hanford Mutual Insurance Company 00460 A- A
US: Maryland
- Highmark Casualty Insurance
Company 10086 A- A
US: Pennsylvania
Home Insurance Company 02242 NR-5 F
US: New Hampshire
- Hoosier Insurance Company 00543 A- A u
US: Indiana
- Kingsway General Insurance
Company 86397 B++ A-
Canada: Ontario
Legal Mutual Liability Ins Soc
of MD 10684 NR-4 C+
US: Maryland
- MassWest Insurance Company, Inc 10755 A- A u
US: Wisconsin
+ Middle States Insurance Company
Inc 10646 B B-
US: Oklahoma
- Mutual Benefit Group 05736 A- A
US: Pennsylvania
- Mutual Benefit Insurance Company 03149 A- A
US: Pennsylvania
Neffsville Mutual Fire Insurance
Company 04613 NR-5 A
US: Pennsylvania
New Old Glory Insurance Company 12617 B+
US: Texas
- Pafco General Insurance Company 00262 E D
US: Indiana
- Providence Washington Insurance
Co of NY 03784 B+ u A-
US: New York
- Providence Washington Insurance
Company 02411 B+ u A-
US: Rhode Island
- Providence Washington Insurance
Cos 00786 B+ u A-
US: Rhode Island
Reciprocal Alliance (RRG) 11797 NR-5 F
US: Tennessee
- Regent Insurance Company 02418 A- A u
US: Wisconsin
- Regis Insurance Company 02676 B B+
US: Pennsylvania
+ Rockford Mutual Insurance
Company 03612 B+ B
US: Illinois
+ Security Plan Fire Insurance
Company 11988 B B-
US: Louisiana
- Select Risk Insurance Company 04765 A- A
US: Pennsylvania
St Paul Insurance Company of N
Dakota 01703 NR-5 A u
US: North Dakota
- Trafalgar Insurance Company of
Canada 86189 B+ A
Canada: Ontario
- Unigard Indemnity Company 04278 A- A u
US: Washington
- Unigard Insurance Company 02370 A- A u
US: Washington
- Unigard Insurance Group 03924 A- A u
US: Washington
- Unigard Pacific Insurance
Company 00383 A- A u
US: Washington
US International Reinsurance
Company 02624 NR-5 F
US: New Hampshire
- York Fire & Casualty Insurance
Company 86516 B++ A-
Canada: Ontario
- York Insurance Company 02409 B+ u A-
US: Illinois
- ZC Specialty Insurance Company 11880 B+ u A- u
US: Texas
International
- Centre Insurance International
Company 86352 B+ u A- u
Ireland
- Centre Reinsurance International
Company 86114 B+ u A- u
Ireland
- Centre Reinsurance Limited 86113 B+ u A- u
Bermuda
- Centre Solutions (Asia) Limited 84252 B+ u A- u
Bermuda
- Centre Solutions (Bermuda)
Limited 85566 B+ u A- u
Bermuda
- Centre Solutions (U.S.) Limited 86961 B+ u A- u
Bermuda
- Centreline Reinsurance Limited 86115 B+ u A- u
Bermuda
- CIGNA Life Insurance New Zealand
Limited 86363 A- A
New Zealand
New RoyalStar Assurance Limited 87888 A-
Bahamas
Terra Nova (Bermuda) Insurance
Co Ltd 86337 NR-3 B+ u
Bermuda
- Winterthur Group 85342 A- A u
Switzerland
- Winterthur Life Insurance
Company 85343 A- A u
Switzerland
- Winterthur Swiss Insurance
Company 85341 A- A u
Switzerland
Ratings Under Review
Life/Health
U American Founders Life Insurance
Company 06057 B u B
US: Texas
Property/Casualty
U Affirmative Insurance Company 01795 B u B
US: Illinois
U Arizona Home Insurance Company 11125 A- u A-
US: Arizona
U Florida Select Insurance Company 11869 B u B
US: Florida
U Hawaiian Insurance & Guar Co.
Ltd 11581 B u B
US: Hawaii
U Insura Property & Casualty Ins
Co. Inc 02741 B u B
US: Illinois
U Shelby Casualty Insurance
Company 02277 B u B
US: Illinois
U Shelby Insurance Company 00832 B u B
US: Illinois
U Texas Select Lloyds Insurance
Company 11082 B u B
US: Texas
U Vesta Fire Insurance Corporation 04407 B u B
US: Illinois
U Vesta Insurance Corporation 01813 B u B
US: Illinois
U U Vesta Insurance Group 05681 B u B
US: Alabama
Rating action: (+) or (-) Rating upgraded or downgraded; (New) Assigned
initial rating; (u) Rating placed under review.
GUIDE TO BEST'S FINANCIAL STRENGTH RATINGS
A Best's Rating is an independent opinion, based on a comprehensive
quantitative and qualitative evaluation, of a company's balance sheet
strength, operating performance and business profile. Best's Ratings
are not a warranty of a company's financial strength and ability to
meet its obligations to policyholders.
Financial Strength Ratings
A Best's Financial Strength Rating (FSR) is an opinion of an insurer's
ability to meet its obligations to policyholders.
Rating Descriptor Definition
Secure
A++, A+ Superior Assigned to companies that have, in our
opinion, a superior ability to meet
their ongoing obligations to
policyholders.
A, A- Excellent Assigned to companies that have, in our
opinion, an excellent ability to meet
their ongoing obligations to
policyholders.
B++, B+ Very Good Assigned to companies that have, in our
opinion, a good ability to meet their
ongoing obligations to policyholders.
Vulnerable
B, B- Fair Assigned to companies that have, in our
opinion, a fair ability to meet their
current obligations to policyholders,
but are financially vulnerable to
adverse changes in underwriting and
economic conditions.
C++, C+ Marginal Assigned to companies that have, in our
opinion, a marginal ability to meet
their current obligations to
policyholders, but are financially
vulnerable to adverse changes in
underwriting and economic conditions.
C, C- Weak Assigned to companies that have, in our
opinion, a weak ability to meet their
current obligations to policyholders,
but are financially very vulnerable to
adverse changes in underwriting and
economic conditions.
D Poor Assigned to companies that have, in our
opinion, a poor ability to meet their
current obligations to policyholders
and are financially extremely
vulnerable to adverse changes in
underwriting and economic conditions.
E Under Assigned to companies (and possibly
Regulatory their subsidiaries/affiliates) that
Supervision have been placed by an insurance
regulatory authority under a
significant form of supervision,
control or restraint whereby they are
no longer allowed to conduct normal
ongoing insurance operations. This
would include conservatorship or
rehabilitation, but does not include
liquidation. It may also be assigned to
companies issued cease and desist
orders by regulators outside their home
state or country.
F In Liquidation Assigned to companies that have been
placed under an order of liquidation by
a court of law or whose owners have
voluntarily agreed to liquidate the
company. Note: Companies that
voluntarily liquidate or dissolve their
charters are generally not insolvent.
S Suspended Assigned to companies that have
experienced sudden and significant
events affecting their balance sheet
strength or operating performance and
whose rating implications cannot be
evaluated due to a lack of timely or
adequate information.
Rating Modifiers and Affiliation Codes
A rating modifier can be assigned to indicate that a Best's Rating may
be subject to near-term change (under review), that a company did not
subscribe to Best's interactive rating process (public data) and that
the rating is assigned to a syndicate operating at Lloyd's. Affiliation
codes (g, p, and r) are added to Best's Ratings to identify companies
whose assigned ratings are based on group, pooling or reinsurance
affiliation with other insurers.
Modifier Descriptor Definition
Rating
Modifiers
u Under Review A modifier that generally is event-
driven (positive, negative or
developing) and is assigned to a
company whose Best's Rating opinion is
under review and may subject change in
the near-term, generally defined as six
months.
pd Public Data Assigned to insurers that do not
subscribe to Best's interactive rating
process. Best's "pd" Ratings reflect
qualitative and quantitative analyses
using public data and information.
s Syndicate Assigned to syndicates operating at
Lloyd's.
Affiliation Codes g Group p Pooled r Reinsured
Not Rated Categories (NR)
Assigned to companies reported on by A.M. Best, but not assigned a
Best's Rating. The five categories are:
NR-1: Insufficient Data.
NR-2: Insufficient Size and/or Operating Experience.
NR-3: Rating Procedure Inapplicable.
NR-4: Company Request.
NR-5: Not Formally Followed.
Rating Outlook
Best's interactive Ratings (A++ to D) are assigned a Rating Outlook
that indicates the potential direction of a company's rating for an
intermediate period, generally defined as the next 12 to 36 months.
Rating Outlooks, which appear in the rating rationale section of the
company's Best's Company Report, are as follows:
Positive Indicates a company's financial/market trends are
favorable, relative to its current rating level and, if
continued, the company has a good possibility of having its
rating upgraded.
Negative Indicates a company is experiencing unfavorable financial/
market trends, relative to its current rating level and, if
continued, the company has a good possibility of having its
rating downgraded.
Stable Indicates a company is experiencing stable financial/market
trends and there is a low likelihood that its rating will
change in the near term.
Best's Ratings are distributed via press release and/or the A.M. Best
Web site at www.ambest.com, and are published in the Rating Monitor
section of BestWeek[R]. Best's Ratings are proprietary and may not be
reproduced without permission.
Copyright [c] 2004 by A.M. Best Company, Inc.
Version 011304
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