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. 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 18 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.
Best's Rating Changes
This summary of Best's Rating Changes includes life,
health-care and property/casualty insurers domiciled
in North America, as well as international
insurers that had ratings assigned, changed or placed
under review since this section last appeared in the
September 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 18 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.
Rating Changed
Rating Current Previous
Action Company Name & Domicile AMB# Rating Rating
Life/Health
+ California Physicians' Service 64012 A A-
US: California
Centre Life Insurance Company * 07367 NR-4 C++
US: Massachusetts
- Health Net Insurance of 11825 B+ B++ u
Connecticut Inc
US: Connecticut
- Health Net Insurance of New York 11859 B+ B++ u
Inc
US: New York
- Health Net Life Insurance Company 06722 B++ A- u
US: California
Order of United Comml Trvlrs of 08181 NR-4 C+
America
US: Ohio
+ PacifiCare Life and Health 07278 A- B++
Insurance Co
US: Indiana
Senate National Life Insurance 08136 NR-5 E
Company
US: Arizona
Vision Care of Oregon Inc 64481 NR-5 A-
US: Oregon
HMO
- Americas Health Choice Medical 64703 C+ pd C++ pd
Plans Inc
US: Florida
- ConsumerHealth Inc 60166 B- pd B+ pd
US: California
- Family Health Plan Inc 68665 D pd C pd
US: Ohio
- Group Health Cooperative of Eau 68654 C++ pd B- pd
Claire US: Wisconsin
- Health Net of California Inc 68507 B++ A- u
US: California
- Health Net of Connecticut Inc 68520 B+ B++ u
US: Connecticut
- Health Net of New Jersey Inc 64005 B+ B++ u
US: New Jersey
- Health Net of New York Inc 68568 B+ B++ u
US: New York
- Health Resources Inc 68538 C++ pd B- pd
US: Indiana
- Health Tradition Health Plan 68620 C++ pd B- pd
US: Wisconsin
- Medical Associates Health Plan 68542 B- pd B pd
Inc
US: Iowa
- M-Plan Inc 60142 C++ pd B- pd
US: Indiana
+ PacifiCare of California Inc 68705 A- B++
US: California
+ PacifiCare of Texas Inc 68706 B++ B+
US: Texas
PHN-HMO Inc 64295 NR-5 C- pd
US: Maryland
- Preferred Health 64053 C+ pd C++ pd
US: Puerto Rico
- Select Health of South Carolina 64003 C pd C+ pd
Inc
US: South Carolina
- SummaCare Inc 60143 C+ pd B- pd
US: Ohio
+ UCare Minnesota 68935 B pd B- pd
US: Minnesota
Property/Casualty
Centre Insurance Company * 12237 NR-4 C++
US: Delaware
+ Farmers and Mechanics Mut Ins Co 00725 B+ B
of WV
US: West Virginia
Fremont Indemnity Company 00225 NR-5 F
US: California
Interboro Mutual Indemnity 00519 E NR-4
Insurance Co
US: New York
Langdon Insurance Company 85765 NR-5 B+ pd
Canada: Ontario
Medical Liability Mutual 03667 NR-4 B-
Insurance Co
US: New York
New Mississippi Health Care Assn S I 12669 A-
Fund
US: Mississippi
OHIC Insurance Company 03778 NR-4 C++
US: Ohio
- PMA Capital Insurance Company 02707 B+ u B++ u
US: Pennsylvania
PMA Capital Insurance Group 18436 NR-5 B++ u
US: Pennsylvania
Princeton Insurance Company 02873 NR-4 B-
US: New Jersey
Providence Washington Insurance 00786 NR-5 B- u
Cos
US: Rhode Island
- Safeway Property Insurance 10672 B B++
Company
US: Nebraska
+ Underwriters at Lloyd's London 00565 A A-
(IL)
US: Illinois
+ Underwriters at Lloyd's London 04093 A A-
(KY)
US: Kentucky
Wasatch Crest Mutual Insurance 10111 NR-5 F
Company
US: Utah
ZC Specialty Insurance Company * 11880 NR-4 C++
US: Texas
International
New Aetna Life & Casualty (Bermuda) 77031 A-
Ltd
Bermuda
New Arch Insurance Company (Europe) 77102 A-
Limited
United Kingdom
AXA Direct Insurance Limited 86505 NR-5 B+ pd
United Kingdom
+ AXA Insurance UK plc 86845 A pd B+ pd
United Kingdom
AXA PPP Healthcare Limited 87530 A pd NR-5
United Kingdom
- Canada Life Limited 87449 B pd B+ pd
United Kingdom
Centre Insurance International 86352 NR-4 C++
Company *
Ireland
Centre Reinsurance International 86114 NR-4 C++
Company *
Ireland
Centre Reinsurance Limited * 86113 NR-4 C++
Bermuda
Centre Solutions (Asia) Limited * 84252 NR-4 C++
Bermuda
Centre Solutions (Bermuda) 85566 NR-4 C++
Limited *
Bermuda
Centre Solutions (U.S.) Limited * 86961 NR-4 C++
Bermuda
Centreline Reinsurance Limited * 86115 NR-4 C++
Bermuda
- Clerical Medical Investment Group 87876 B++ pd A- pd
Ltd
United Kingdom
- Clerical Medical Managed Funds 87281 B+ pd B++ pd
Limited
United Kingdom
New Combined Life Assurance Company 84203 B++ NR-5
Limited
United Kingdom
- Co-operative Insurance Society 87801 B- pd B+ pd
Limited
United Kingdom
- Corifrance 85331 B++ A-
France
New Doctors Benefit Insurance Company 77100 C+
Ltd.
Barbados
International Casualty & Surety 86523 NR-5 F
Co Ltd
New Zealand
Isis Managed Pension Funds 87436 NR-5 B+ pd
Limited
United Kingdom
+ Lloyd's of London 85202 A A-
United Kingdom
New Lloyd's Syndicate 1084 48241 A s
United Kingdom
+ Lloyd's Syndicate 1243 48321 A s A- s
United Kingdom
+ Lloyd's Syndicate 2010 48932 A s A- s
United Kingdom
+ Lloyd's Syndicate 3000 48945 A s A- s
United Kingdom
+ Lloyd's Syndicate 570 48000 A s A- s
United Kingdom
New London General Insurance Company 87438 B++ B pd
Ltd
United Kingdom
+ Royal London Mutual Insurance Soc 87567 B pd B- pd
Ltd
United Kingdom
- Scottish Mutual Assurance Plc 87585 C++ pd B pd
United Kingdom
Scottish Widows Annuities Limited 84159 NR-5 B+ pd
United Kingdom
- Scottish Widows plc 84161 B++ pd A- pd
United Kingdom
Windsor Life Assurance Company 85400 NR-5 B pd
Limited
United Kingdom
* Rating was downgraded from B+u to C++ on Aug. 5. Current rating
effective Aug. 5.
Rating Action: (+) or (-) Rating upgraded or downgraded; (New) Assigned
initial rating; (u) Rating placed under review
Ratings Under Review
Rating Current Previous
Action Company Name & Domicile AMB# Rating Rating
U Allstate Floridian Indemnity 12128 A- u A-
Company
US: Illinois
U Allstate Floridian Insurance 10648 A- u A-
Company
US: Illinois
U Allstate Floridian Insurance 18517 A- u A-
Group
US: Illinois
U American Independent Insurance 04969 B+ u B+
Company
US: Pennsylvania
U American Vehicle Insurance 00711 B+ u B+
Company
US: Florida
U Federated National Insurance 11420 B u B
Company
US: Florida
U Manufacturers Alliance Insurance 02626 B++ u B++ u
Company
US: Pennsylvania
U Pennsylvania Manufacturers Assoc 00760 B++ u B++ u
Ins Co
US: Pennsylvania
U Pennsylvania Manufacturers 01733 B++ u B++ u
Indemnity Co
US: Pennsylvania
U Personal Service Insurance 03304 A- u A-
Company
US: Ohio
U PMA Insurance Group 18200 B++ u B++ u
US: Pennsylvania
U State Farm Florida Insurance 12235 A- u A-
Company
US: Florida
Rating was downgraded from B+u to C++ on Aug. 5. Current rating
effective Aug. 5.
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 where
by the 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 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 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 062504
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