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 January January: 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 15 for the Current Guide to Best's Ratings or visit the A.M. Best Co. Web site at www.ambest.com/ratings/access.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.
atings Changed
Rating Current Previous
Action Company Name & Domicile AMB# Rating Rating
Life/Health
New Blue Cross and Blue Shield of 64541 B++ NR-5
Vermont
US: Vermont
- Canada Life Insurance Co of 60378 A- A+ u
Puerto Rico
US: Puerto Rico
- Employers Reassurance 06976 A- A
Corporation
US: Kansas
- Old Standard Life Insurance 68103 C++ u B-
Company
US: Idaho
- Old West Annuity & Life 07957 C++ u B-
Insurance Co
US: Arizona
- Unity Mutual Life Insurance 07196 B- B
Company
US: New York
- Western United Life Assurance 08077 C++ u B-
Company
US: Washington
HMO
Aetna Dental Maintenance 64020 NR-5 A-
Organization
US: Texas
- ConnectiCare Inc 68517 B pd B+ pd
US: Connecticut
- ConnectiCare of Massachusetts 64464 B- pd B pd
US: Massachusetts
UNICARE Health Plan of Oklahoma 64633 NR-3 A-
Inc
US: Oklahoma
+ Vermont Health Plan LLC 64124 B++ B+ pd
US: Vermont
Property/Casualty
- Capitol County Group 03920 B++ A
US: Texas
- Capitol County Mutual Fire 03829 B++ A
Insurance Co
US: Texas
- Chicago Mutual Insurance Company 03138 B B+
US: Illinois
Commercial Mutual Insurance 11627 NR-4 B
Company
US: Georgia
- Commercial Risk Re-Insurance 11378 B B+
Company
US: Vermont
Converium NA Group 18233 NR-5 A
US: New York
Cornerstone Mutual Insurance 11626 NR-4 B
Company
US: Georgia
Covenant Group (GA) 18521 NR-4 B
US: Georgia
- Farmers Mutual Insurance Company 10168 B- B
(KS)
US: Kansas
GE Financial/P&C 05901 NR-5 A u
US: Pennsylvania
Heartland Lloyds Insurance 11636 NR-3 C
Company
US: Texas
+ Iowa American Insurance Company 03603 A B u
US: Iowa
Iowa Mutual Group 03907 NR-5 B u
US: Iowa
+ Iowa Mutual Insurance Company 00528 A B u
US: Iowa
- Medical Assurance of West 10902 B A-
Virginia, Inc
US: West Virginia
New Merchants Bonding Co (Mutual) 18618 A
Group
US: Iowa
- Mutual Fire Ins Co of 04198 C+ B
Carroll Cty
US: Maryland
+ National Automotive Insurance 11516 C+ C
Company
US: Louisiana
- National Service Contract Ins Co 11820 B++ u A- u
RRG
US: Hawaii
New Nations Bonding Company 12599 A
US: Texas
New Ocean Harbor Casualty Insurance 11218 B NR-1
Company
US: Florida
- Old Reliable Casualty Company 03807 B++ A-
US: Missouri
New Omega One Insurance Company, Inc 11413 B+ NR-2
US: Alabama
+ Steel Tank Insurance Co A Risk 11221 A- B++
Ret Grp
US: Vermont
+ Summit Insurance Company 01863 B++ B+
US: Rhode Island
- Wisconsin American Mutual 04350 C++ B-
Insurance Co
US: Wisconsin
International
Alliance Assurance Company 85105 NR-5 A-
Limited
United Kingdom
New Carraig Insurance Limited 75634 A-
Ireland
+ CGNU Life Assurance Limited 85266 A pd B++ pd
United Kingdom
+ CGU International Insurance plc 86250 A pd NR-5
United Kingdom
- Commercial Risk Reinsurance 86514 B B+
Company Ltd
Bermuda
+ Commercial Union Life Assurance 87873 A pd B++ pd
Company
United Kingdom
- EIG-Ansvar Limited 86390 A- A
New Zealand
New Knight Insurance Company Ltd 72139 B+
Cayman Islands
New Lloyd's Syndicate 2001 48337 A s
United Kingdom
New Lloyd's Syndicate 382 47902 A s
United Kingdom
Morley Pooled Pensions Limited 87494 A- pd NR-5
United Kingdom
New New Technology Insurance 89076 A-
Ireland
+ Norwich Union Annuity Limited 87492 A pd B++ pd
United Kingdom
+ Norwich Union Insurance Ltd 85250 A pd NR-5
United Kingdom
+ Norwich Union Life & 86137 A pd B++ pd
Pensions Ltd
United Kingdom
+ Norwich Union Linked Life 85265 A pd B++ pd
Assurance Ltd
United Kingdom
Sea Insurance Company Limited 85107 NR-5 A-
United Kingdom
Skandia Insurance Company 85180 NR-3 A-
Ltd (publ.)
Sweden
Stockton Reinsurance Limited 86506 NR-5 B++
Bermuda
New Through Transport Mut Ins Asc 84975 B++ NR-5
(EurAsia)
United Kingdom
+ Through Transport Mutual Ins 87148 B++ B+
Assoc Ltd
Bermuda
Rating Action: (+) or (-) Rating upgraded or downgraded;
(New) Assigned initial rating; (u) Rating placed under review
atings Under Review
Rating Current Previous
Action Company Name & Domicile AMB# Rating Rating
U CNA Group Life Assurance Company 07681 A u A
US: Illinois
Property/Casualty
U Piedmont Mutual Insurance 11575 B- u B-
Company
US: North Carolina
U Sirius America Insurance Company 03758 A u A
US: Delaware
U Transportation Casualty 00741 B+ u B+
Insurance Co
US: Florida
International
U Consumer Insurance Services 84340 A- u A-
Limited
New Zealand
U Credit & General Insurance 86476 A u A
Limited
New Zealand
U Fund American Reins Company, Ltd 83294 A- u A-
Bermuda
U Sirius International Ins Corp 86396 A u A
(publ)
Sweden
U Sirius International Insurance 87839 A u A
Corp Grp
Sweden
Rating Action: (+) or (-) Rating upgraded or downgraded;
(New) Assigned initial rating; (u) Rating placed under review
UIDE TO BET'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
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
Regulatory possibly their subsidiaries/
Supervision affiliates) that have been placed
by an insurance regulatory
authority under a significant
form of supervision, control or
restraint where-by 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 Assigned to companies that have
Liquidation 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 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 u Under Review A modifier that generally is
Modifiers 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
Affiliation Codes 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 company 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] 2003 by A.M. Best Company, Inc.
Version 071503
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