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 September September: see month. 2003 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 18 for the 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
Acceleration Life Insurance Company 08472 NR-3 A-
US: Ohio
+ AXA Corporate Solutions Life 09083 B+ B
Reinsurance
US: Delaware
- EMC National Life Company 06339 B++ A- u
US: Iowa
- Munich American Reassurance Company 06746 A+ A++
US: Georgia
National Travelers Life Company 06806 NR-5 B+ u
US: Iowa
HMO
Coordinated Care Solutions of 04746 E NR-5
Texas Inc
US: Texas
Health Plan of the Redwoods 68991 NR-5 F
US: California
- XANTUS Healthplan of Tennessee Inc 68883 F E
US: Tennessee
Property/Casualty
New Associated Industries Mutual Ins Co 12543 A- NR-5
US: North Carolina
+ AXA Corporate Solutions 03811 B+ B
Reinsurance Co
US: Delaware
New Encompass Home and Auto Ins Co 12535 A- NR-3
US: Illinois
New Encompass Independent Insurance 12536 A- NR-3
Company
US: Illinois
New Encompass Insurance Company of 11703 A- NR-3
America
US: Illinois
New Encompass Property & Casualty 11702 A- NR-3
Company
US: Illinois
New Guardian Insurance Company, Inc 11328 B+ NR-5
US: U.S. Virgin Islands
- Legion Indemnity Company 11860 F E
US: Illinois
- Legion Insurance Company 02352 F E
US: Pennsylvania
- Munich Reinsurance Company of Canada 85770 A+ A++
Canada: Ontario
+ North East Insurance Company 03108 B+ B
US: Maine
North East Insurance Group 02974 NR-5 B
US: Maine
Pacific Automobile Insurance Company 02880 NR-5 E
US: California
- Pacific National Insurance Company 02376 F E
US: California
THI Holdings Group 18534 NR-5 A- u
US: Ohio
+ Titan Indemnity Company 00548 A+ A- u
US: Texas
+ Titan Insurance Company 10709 A+ A- u
US: Michigan
- Transguard Insurance Company of 00327 A- u A
America
US: Illinois
+ Victoria Automobile Insurance 11688 A+ A- u
Company
US: Indiana
+ Victoria Fire & Casualty Company 00671 A+ A- u
US: Ohio
+ Victoria National Insurance Company 12059 A+ A- u
US: Ohio
+ Victoria Select Insurance Company 11689 A+ A- u
US: Ohio
+ Victoria Specialty Insurance Company 12058 A+ A- u
US: Ohio
- Villanova Insurance Company 12110 F E
US: Pennsylvania
International
New Glencoe Group 89072 A
Bermuda
- Great Lakes Reinsurance (UK) PLC 86160 A+ A++
United Kingdom
- Monegasque de Reassurances S.A.M. 86909 NR-3 C-
Monaco
- Muenchener Rueckversicherungs 86577 A+ A++
Germany
- Munich Reinsurance Co of 86473 A+ A++
Australasia Ltd
Australia
- Munich Reinsurance Company of 86474 A+ A++
Africa Ltd
South Africa
- Munich Reinsurance Italy S.p.A. 86475 A+ A++
Italy
- National Warranty Ins RRG 11609 F C- u
Cayman Islands
- New Reinsurance Company 85060 A+ A++
Switzerland
New Pioneer Insurance Company Limited 89069 B+
New Zealand
Reinsurance Australia Corporation 86440 NR-3 C-
Australia
Reinsurance Australia Corporation 86906 NR-3 C-
Group
Australia
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, in our opinion,
may not have an 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 their
Regulatory subsidiaries/affiliates) that have been
Supervision 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 or 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 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 Operating Inapplicable.
Experience.
NR-4: Company NR-5: Not Formally
Request. 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.
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