Best's rating changes.This edition 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 reflects all rating changes--assignments, changes or placed under review--that occurred for life, health 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 insurance companies, since this section last appeared in the April 2006 edition of Best's Review. See page 23 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 also are available free of charge at www.ambest.com/ratings/access.html.
Ratings Changed
Rating Current Previous
Action Company Name & Domicile AMB# Rating Rating
Life/Health
+ Baltimore Life Insurance Company 06143 B++ B+
US: Maryland
- Booker T Washington Insurance Co 06169 E C-
Inc
US: Alabama
Health Net Insurance of 11825 NR-5 B+ u
Connecticut Inc
US: Connecticut
- Individual Assurance Life Health 08437 B+ B++
& Acc
US: Missouri
Landmark Life Insurance Company 68055 NR-4 B-
US: Texas
+ National Safety Life Insurance 07850 B+ B
Company
US: Pennsylvania
Philanthropic Mutual Life Ins Co 06920 NR-5 B
US: Pennsylvania
- Professional Life & Casualty 06952 C+ C++
Company
US: Illinois
New Servus Life Insurance Company 60575 A
US: Connecticut
- Universal Life Insurance Company 07201 D C-
US: Alabama
+ USAble Life 09350 A A-
US: Arkansas
- Westport Life Insurance Company 68070 B+ B++
US: Arizona
HMO
New HMO Health Plans Inc 68945 B+ B- pd
US: Colorado
+ John Deere Health Plan Inc 68702 A- B++ u
US: Illinois
Valley Health Plan Inc 68825 NR-5 A-
US: Wisconsin
Property/Casualty
+ American Service Insurance 01777 A- B++ u
Company Inc
US: Illinois
American Superior Insurance 12157 NR-5 F
Company
US: Florida
- Atlantic Mutual Companies 00178 B- u B+
US: New York
- Atlantic Mutual Insurance Company 02063 B- u B+
US: New York
CAA Insurance Company (Ontario) 85708 NR-4 B+
Canada: Ontario
- Centennial Insurance Company 02064 B- u B+
US: New York
Commercial Mutual Insurance 11627 E NR-4
Company
US: Georgia
Continental Lloyd's Insurance 10662 NR-5 A
Company
US: Texas
Cornerstone Mutual Insurance 11626 E NR-4
Company
US: Georgia
- Florida Select Insurance Company 11869 C++ u B u
US: Florida
- Georgia Farm Bureau Casualty Ins 10746 A A+
Co
US: Georgia
- Georgia Farm Bureau Group 18071 A A+
US: Georgia
- Georgia Farm Bureau Mutual 00412 A A+
Insurance Co
US: Georgia
- Hawaiian Insurance & Guar Co, Ltd 11581 C++ u B u
US: Hawaii
+ Insurors Indemnity Companies 18609 A- B++
US: Texas
+ Insurors Indemnity Company 11077 A- B++
US: Texas
+ Insurors Indemnity Lloyds 12570 A- B++
US: Texas
Optimum Frontier Insurance 87070 NR-5 B-
Company
Canada: Ontario
+ Penn-America Group, Inc 18422 A A-
US: Pennsylvania
+ Penn-America Insurance Company 03674 A A-
US: Pennsylvania
New Penn-Patriot Insurance Company 11460 A
US: Virginia
+ Penn-Star Insurance Company 12050 A A-
US: Pennsylvania
- Quanta Indemnity Company 12644 B++ u A-
US: Colorado
- Quanta Reinsurance U.S. Ltd. 76086 B++ u A-
Bermuda
- Quanta Specialty Lines Insurance 12546 B++ u A-
Co
US: Indiana
- Quanta U.S. Companies 19245 B++ u A-
US: New York
Response Insurance Company of 12385 NR-5 B++
America
US: District Of Columbia
+ Safe Insurance Company 11614 B++ B+
US: West Virginia
- Shelby Casualty Insurance Company 02277 C++ u B u
US: Illinois
- Shelby Insurance Company 00832 C++ u B u
US: Illinois
+ Southern United Fire Insurance 03197 A- B+ u
Company
US: Alabama
New Summit Insurance Company 03774 A- NR-3
US: Connecticut
Summit Insurance Company 01863 NR-5 B++
US: Rhode Island
- Texas Select Lloyds Insurance 11082 C++ u B u
Company
US: Texas
+ U.S. Security Insurance Company, 10682 B+ B u
Inc
US: Florida
- Vesta Fire Insurance Corporation 04407 C++ u B u
US: Illinois
- Vesta Insurance Corporation 01813 C++ u B u
US: Illinois
- Vesta Insurance Group 05681 C++ u B u
US: Alabama
West Virginia Fire and Casualty 03362 NR-5 B+
Company
US: West Virginia
International
New Casiopea Re S A 56998 A-
Luxembourg
- Casting Manufacturers Insurance 86175 B++ A-
Limited
Bermuda
New Colonial Life Ins Co (Trinidad) 84414 A- NR-5
Ltd
Trinidad And Tobago
Groupama Assurance Credit 86541 NR-4 B++
France
New Hiscox Insurance Co (Guernsey) 73417 A-
Ltd
Guernsey
New Kingsway Reinsurance Corporation 86853 A- NR-5
Barbados
Olympus Reinsurance Company 83019 NR-4 B-
Ltd. *
Bermuda
- Quanta Europe Ltd 89855 B++ u A-
Ireland
- Quanta Insurance Group 89073 B++ u A-
Bermuda
- Quanta Reinsurance Ltd. 89003 B++ u A-
Bermuda
New Risk Assurance Co St Peters Unv 76248 B+
Hosp
Cayman Islands
Teleco Insurance (NZ) Limited 75691 NR-4 B++
New Zealand
- Western General Insurance Ltd 85932 B+ B++ u
Bermuda
Ratings Under Review
Rating Current Previous
Action Company Name & Domicile AMB# Rating Rating
Clearwater Insurance Company 03083 A u A
US: Delaware
Commonwealth Insurance Co of 11766 A- u A-
America
US: Washington
Commonwealth Insurance Company 85730 A- u A-
Canada: British Columbia
Crum & Forster Indemnity Company 01944 A- u A-
US: Delaware
Crum & Forster Insurance Group 18245 A- u A-
US: New Jersey
Crum & Forster Specialty 11123 A- u A-
Insurance Co
US: Arizona
Crum and Forster Insurance 01886 A- u A-
Company
US: New Jersey
Fairmont Insurance Company 04293 B++ u B++
US: California
Fairmont Premier Insurance 02504 B++ u B++
Company
US: California
Fairmont Specialty Group 18641 B++ u B++
US: Texas
Fairmont Specialty Insurance 03118 B++ u B++
Company
US: Delaware
Fairmont Specialty Lloyds 03364 B++ u B++
US: Texas
Farmers Home Group 03925 B+ u B+
US: Minnesota
Farmers Home Mutual Insurance 00368 B+ u B+
Company
US: Minnesota
Federated Insurance Company of 85503 A- u A-
Canada
Canada: Manitoba
Hudson Insurance Company 03081 A u A
US: Delaware
Hudson Specialty Insurance 12631 A u A
Company
US: New York
Lombard General Ins Co of Canada 85732 A- u A-
Canada: Ontario
Lombard Insurance Company 85738 A- u A-
Canada: Ontario
Markel Insurance Company of 85767 A- u A-
Canada
Canada: Ontario
North River Insurance Company 02135 A- u A-
US: New Jersey
Odyssey America Reinsurance 00539 A u A
Corporation
US: Connecticut
Odyssey Reinsurance Group 18514 A u A
US: Delaware
Pioneer Insurance Company (MN) 02847 B+ u B+
US: Minnesota
Seneca Insurance Company Inc 00324 A- u A-
US: New York
Seneca Insurance Group 18494 A- u A-
US: New York
Seneca Specialty Insurance 12258 A- u A-
Company
US: Arizona
TIG Indemnity Company 02512 B+ u B+
US: California
TIG Insurance Company 02507 B+ u B+
US: California
TIG Insurance Group 00090 B+ u B+
US: Texas
TIG Specialty Insurance Company 02502 B+ u B+
US: California
United States Fire Insurance 02136 A- u A-
Company
US: Delaware
Western Home Insurance Company 03561 B+ u B+
US: Minnesota
Zenith Insurance Company 87124 A- u A-
Canada: Ontario
International
AEA Insurance Co Ltd 73096 B++ u B++
British Virgin Islands
AEA Insurance Group 74500 B++ u B++
British Virgin Islands
AEA Insurance Services Ltd 73776 B++ u B++
British Virgin Islands
CRC (Bermuda) Reinsurance Limited 86437 A- u A-
Bermuda
Rating Action: (+) or (-) Rating upgraded or downgraded; (New) Assigned
initial rating; (u) Rating under review
* Rating was downgraded from B+ a to B- on March 24. Current rating
effective March 24.
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 Financial
Strength 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 as to an
insurer's financial strength and ability to meet its ongoing
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 policy-
holders.
B++, B+ Very Good Assigned to companies that have, in our
opinion, a good ability to meet their on-
going obligations to policyholders.
Vulnerable
B, B- Fair Assigned to companies that have, in our
opinion, a fair ability to meet their on-
going obligations to policyholders and
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
ongoing obligations to policyholders and
are financially vulnerable to adverse
changes in underwriting and economic con-
ditions.
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 poorly ability to meet
their ongoing obligations to policy-
holders and are financially extremely
vulnerable to adverse changes in under-
writing and economic conditions.
E Under Assigned to companies (and possibly their
Regulatory subsidiaries/affiliates) that have been
Supervision placed by an insurance regulatory authori-
ty under a significant form of supervi-
sion, 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 volunta-
rily 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 expe-
rienced 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) or 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.
Ratings
Modifiers
Modifier Descriptor Definition
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 be subject
to 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 NR-2: Insufficient NR-3: Rating Procedure
Data. Size and/or Opera- Inapplicable.
ting Experience.
NR-4: Company NR-5: Not Formally
Request. Followed.
Rating Outlook
Best's 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. Public Data
Ratings are not assigned an Outlook. 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 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] 2003 by A.M. Best Company,
Inc.
Version 031606
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