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 March 2005 edition of Best's Review. See page 14 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
- American Life & Health 06078 B++ A- u
Insurance Company
US: Missouri
- Cambridge Life Insurance 08545 B++ A- u
Company
US: Missouri
- First Health Life & Health 08951 B++ A- u
Insurance Co
US: Texas
New Gulf Guaranty Life Insurance 08081 B- NR-1
Company
US: Mississippi
New Orkney Re Inc 60559 A-
US: South Carolina
Primetime Medical Insurance 12013 NR-5 B++
Company
US: Ohio
New Prudential Arizona Re 76547 A+
Captive Company
US: Arizona
New Prudential Select Life Ins 60560 A-
Co of America
US: Minnesota
Security Plan Life Insurance 07450 NR-5 B u
Company
US: Louisiana
HMO
AultCare HMO 64197 NR-5 B++
US: Ohio
New South Dakota State Medical 68969 B+ B- pd
Holding Co
US: South Dakota
Unity Health Plans Insurance 68781 NR-5 B++
Corporation
US: Wisconsin
Property/Casualty
+ AIG Centennial Insurance 00876 A++ A
Company
US: Pennsylvania
+ AIG Indemnity Insurance 11768 A++ A
Company
US: Pennsylvania
AIG Personal Lines Group 05901 NR-5 A
US: Pennsylvania
+ AIG Preferred Insurance 02796 A++ A
Company
US: Pennsylvania
+ AIG Premier Insurance 02123 A++ A
Company
US: Pennsylvania
- American Alternative 11574 A A+
Insurance Corp
US: Delaware
American and Foreign 02430 NR-5 B
Insurance Company
US: Delaware
New American General Holdings Grp 18643 B
US: Illinois
American Protection 02275 NR-5 D
Insurance Company
US: Illinois
- American Re Corporation 18259 A A+
Group
US: Delaware
- American Re-Insurance 00149 A A+
Company
US: Delaware
American Skyline Insurance 12479 E NR-2
Company Inc
US: Maryland
+ Apollo Casualty Company 11809 B B-
US: Illinois
Atlantic Indemnity Company 11038 NR-5 B
US: North Carolina
Atlantic Preferred Insurance 12202 NR-4 C
Co. *
US: Florida
Atlantic Security Insurance 11330 NR-5 B
Company
US: North Carolina
+ Boiler Inspection and Ins Co 85707 A++ A+
of CA
Canada: Ontario
Carolina American Insurance 02043 NR-5 B
Company
US: South Carolina
- CNL/Insurance America Inc 00183 B B++
US: Georgia
Connecticut Indemnity 02454 NR-5 B
Company
US: Connecticut
F & C Insurance Company of CT 02455 NR-5 B
US: Connecticut
Globe Indemnity Company 02432 NR-5 B
US: Delaware
- Guaranty National Insurance 00443 C++ B
Company
US: Colorado
Guaranty National Insurance 11658 NR-5 B
Company CT
US: Connecticut
New Gulf Guaranty Insurance 11128 B- NR-1
Company
US: Mississippi
+ Hartford Steam Boiler Group 03961 A++ A+
US: Connecticut
+ Hartford Steam Boiler Inspec 00465 A++ A+
& Ins
US: Connecticut
+ Hartford Steam Boiler Inspec 11074 A++ A+
& Ins Co CT
US: Connecticut
+ National Automotive 11516 B- C+
Insurance Company
US: Louisiana
- Ohio Indemnity Company 04813 B++ u A
US: Ohio
Phoenix Assurance Company of 02400 NR-5 B
New York
US: New Hampshire
- Princeton Excess & Surplus 12170 A A+
Lines Ins Co
US: Delaware
Reamstown Mutual Insurance 04744 NR-4 B
Company
US: Pennsylvania
- Royal & SunAlliance USA 18566 C++ B
Insurance Pool
US: North Carolina
- Royal Indemnity Company 02438 C++ B
US: Delaware
Royal Insurance Company of 02437 NR-5 B
America
US: Illinois
- Royal Surplus Lines 01745 C++ B
Insurance Company
US: Connecticut
Safeguard Insurance Company 02440 NR-5 B
US: Connecticut
- Sea Insurance Company of 02094 C++ B
America
US: New York
SEACO Insurance Company 02071 NR-5 E
US: Massachusetts
- Security Insurance Company 02457 C++ B
of Hartford
US: Connecticut
Security Plan Fire Insurance 11988 NR-5 B u
Company
US: Louisiana
- Society Group 18231 A- A
US: Wisconsin
- SOCIETY INSURANCE, a mutual 00896 A- A
co
US: Wisconsin
Southern Family Insurance ** 11916 NR-4 C
US: Florida
Specialty National Insurance 12302 NR-5 D
Company
US: Illinois
Tennessee Insurance Company 03179 NR-4 B-
US: Tennessee
Unisun Insurance Company 02042 NR-5 B
US: South Carolina
- Venture Insurance Company 11393 A- A
US: Wisconsin
International
New CentraState Healthcare System 74551 B+
Bermuda
New Children's Specialized 74552 B+
Hospital
Bermuda
+ HSB Engineering Insurance 86999 A++ A+
Limited
United Kingdom
- Inter-Ocean Group 83350 A- A
Bermuda
- Inter-Ocean Reinsurance 84302 A- A
(Ireland) Ltd
Ireland
- Inter-Ocean Reinsurance 86410 A- A
Company Ltd
Bermuda
Prudential Annuities Limited 87543 NR-5 B++ pd
United Kingdom
- Prudential Assurance Company 87803 A+ A++
Limited
United Kingdom
Prudential Pensions Limited 87546 NR-5 A- pd
United Kingdom
New Robert Wood Johnson Univ 74553 B++
Hospital Haml
Bermuda
New Robert Wood Johnson Univ 74550 B+
Hospital NB
Bermuda
+ School Boards Insurance 86040 A- B++
Company, Ltd
Bermuda
New Wilton Re Bermuda Limited 77621 A-
Bermuda
Rating Action: (+) or (-) Rating upgraded or downgraded; (New) Assigned
initial rating; (u) Rating placed under review
* Rating was downgraded from B u to C on March 1. Current rating
effective March 1.
** Rating was downgraded from B u to C on March 1. Current rating
effective March 1.
Ratings Under Review
Rating Current Previous
Action Company Name & Domicile AMB# Rating Rating
Life/Health
U American Centurion Life 08062 A+ u A+
Assurance Co
US: New York
U American Enterprise Life 09057 A+ u A+
Insurance Co
US: Indiana
U American Partners Life 09105 A+ u A+
Insurance Company
US: Arizona
U Employers Reassurance 06976 A- u A-
Corporation
US: Kansas
U IDS Life Insurance Company 06592 A+ u A+
US: Minnesota
U IDS Life Insurance Company of 08345 A+ u A+
New York
US New York
Property/Casualty
U Coregis Insurance Company 01890 B+ u B+
US: Indiana
U Employers Re Corp Group 05967 A u A
US: Missouri
U Employers Reinsurance 00347 A u A
Corporation
US: Missouri
U First Specialty Insurance 10783 A u A
Corporation
US: Missouri
U GE Reinsurance Corporation 04124 A u A
US: Illinois
U Medical Protective Company 00591 A- u A-
US: Indiana
U Peak P & C Ins Corp 11414 B u B
US: Colorado
U Stonington Insurance Company 00175 A u A
US: Texas
U Stonington Lloyds Insurance 12577 A u A
Company
US: Texas
U Transguard Insurance Company 00327 A- u A-
of America
US: Illinois
U Viking County Mutual 03626 B u B
Insurance Company
US: Texas
U Viking Insurance Company of 04410 B u B
Wisconsin
US: Colorado
U Westport Insurance 02301 A u A
Corporation
US: Missouri
U GE ERC Strategic Reinsurance 86848 A u A
Limited
Ireland
U GE Frankona Group 88108 A u A
Germany
U GE Frankona Reassurance 86653 A u A
Limited
United Kingdom
U GE Frankona Reinsurance A/S 85501 A u A
Denmark
U GE Frankona Reinsurance Ltd 86655 A u A
United Kingdom
U GE Frankona 85311 A u A
Rueckversicherungs-AG
Germany
U Glencoe Group 89072 A u A
Bermuda
U Glencoe Insurance Ltd 86548 A u A
Bermuda
U Imagine Insurance Company 84750 A- u A-
Limited
Barbados
U Lantana Insurance Ltd 75594 A u A
Bermuda
U Luxembourg European 86847 A u A
Reinsurance S.A.
Luxembourg
U Overseas Partners Cat Limited 55023 A u A
Bermuda
U Renaissance Reinsurance Ltd 86357 A+ u A+
Bermuda
U Renaissance Reinsurance of 87847 A+ u A+
Europe
Ireland
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 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 121304
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