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 May 2006 edition of Best's Review. See page 20 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
ACA Assurance * 60037 NR-4 B
US: New Hampshire
New Assurant Life of Canada 66882 A-
Canada: Ontario
- Jefferson Pilot Financial
Insurance Co 07211 A+ A++ u
US: Nebraska
- Jefferson Pilot LifeAmerica
Insurance Co 06239 A+ A++ u
US: New Jersey
- Jefferson-Pilot Life Insurance
Company 06928 A+ A++ u
US: North Carolina
+ Lincoln Heritage Life Insurance
Company 06694 A- B++
US: Illinois
- National Security Life and
Annuity Co 08633 A A+
US: New York
- National States Insurance Company 06071 B- u B
US: Missouri
- Revios Reinsurance Canada Ltd 06460 B++ A-
Canada: Ontario
- United Transportation Union Ins
Assn 08272 B B+
US: Ohio
HMO
Denticare Inc (Florida) 64384 NR-5 A-
US: Florida
+ Physicians Health PI of Northern
IN Inc 68743 B+ B
US: Indiana
New Priority Health 68977 A- B pd
US: Michigan
New Priority Health Government
Programs 64739 B NR-5
US: Michigan
Universal Care ** 68894 NR-4 C
US: California
Property/Casualty
Allianz Insurance Company of
Canada 86187 NR-5 A+
Canada: Ontario
+ American Freedom Insurance
Company 12271 B++ B+
US: Illinois
Capitol County Group 03920 NR-5 B++
US: Texas
+ Capitol County Mutual Fire
Insurance Co 03829 A B++
US: Texas
New Century Insurance Group 18678 A-
US: Ohio
- Country-Wide Insurance Company 00301 C++ B-
US: New York
+ Farmers Union Mutual Insurance Co
(MT) 01800 A- B++
US: Montana
GGL Insurance Company 03847 NR-5 A+
US: Texas
- Nazareth Mutual Insurance Company 04199 B++ A-
US: Pennsylvania
+ North Country Insurance Company 10566 B B-
US: New York
+ Old Reliable Casualty Company 03807 A B++
US: Missouri
Premier Insurance Exch, RRG *** 11151 NR-4 B++
US: Vermont
New ProCentury Insurance Company 02180 A- NR-3
US: Texas
+ Proformance Insurance Company 11674 B+ B
US: New Jersey
PXRE Reinsurance Company 02797 NR-4 B
US: Connecticut
+ Rockford Mutual Insurance Company 03612 B++ B+
US: Illinois
+ Rural Mutual Insurance Company 02445 A- B++
US: Wisconsin
Society Group 18231 NR-5 A-
US: Wisconsin
Southern Family Insurance Company
Inc 11916 E NR-4
US: Florida
USF&G Insurance Company of
Mississippi 11568 NR-5 A+
US: Mississippi
Venture Insurance Company 11393 NR-5 A-
US: Wisconsin
International
Accident Compensation Corporation 86814 NR-4 A+
New Zealand
AEA Insurance Co Ltd 73096 NR-3 B+
British Virgin Islands
AEA Insurance Group 74500 NR-3 B+
British Virgin Islands
AEA Insurance Services Ltd 73776 NR-3 B+
British Virgin Islands
New Caribbean Alliance Insurance
Company Ltd 13025 B++
Antigua And Barbuda
New Electric Insurance Ireland Ltd 78224 A-
Ireland
New Omega Specialty Insurance Company
Ltd 78185 A-
Bermuda
PXRE Group 84807 NR-5 B
Bermuda
PXRE Reinsurance Ltd. 84141 NR-4 B
Bermuda
* Rating was downgraded from B+ to B on April 6. Current rating
effective April 6.
** Rating was affirmed C on April 20. Current rating effective April
20.
*** Rating was downgraded from A- to B++ on April 14. Current rating
effective April 14.
Rating Action: (+) or (-) Rating upgraded or downgraded; (New) Assigned
initial rating; (u) Rating under review
Ratings Under Review
Rating Current Previous
Action Company Name & Domicile AMB# Rating Rating
Property/Casualty
Auto Club Family Insurance
Company 10789 A u A
US: Missouri
Automobile Club Inter-Insurance
Exchange 00185 A u A
US: Missouri
Automobile Club of Missouri Group 18095 A u A
US: Missouri
Sirius America Insurance Company 03758 A u A
US: Delaware
* Rating was downgraded from B+ to B on April 6. Current rating
effective April 6.
** Rating was affirmed C on April 20. Current rating effective April
20.
*** Rating was downgraded from A- to B++ on April 14. Current rating
effective April 14.
Rating Action: (+) or (-) Rating upgraded or downgraded; (New) Assigned
initial rating; (u) Rating 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 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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