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Best's rating changes.

This edition of Best's Rating Changes reflects all rating changes--assignments, changes or placed under review--that occurred for life, health and property/casualty insurers domiciled in North America, as well as international insurance companies, since this section last appeared in the July 2006 edition of Best's Review.

See page 23 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
Action Company Name & Domicile AMB# Rating

 Life/Health

New ACE Life Insurance Company 06047 A
 US: Connecticut
+ AGC Life Insurance Company 09199 A++
 US: Missouri
+ AIG Annuity Insurance Company 07235 A++
 US: Texas
+ AIG Assurance Canada 66828 A++
 Canada: Ontario
+ AIG Life Insurance Company 06809 A++
 US: Delaware
+ AIG Life Insurance Company of Canada 66835 A++
 Canada: Ontario
+ AIG Life Insurance Company of PR 06073 A++
 US: Puerto Rico
+ AIG SunAmerica Life Assurance Co 06115 A++
 US: Arizona
- Amedex Insurance Company 08449 A-
 US: Florida
+ American Capitol Insurance Company 06043 B+
 US: Texas
+ American General Assurance Company 06989 A++
 US: Illinois
+ American General Life and Acc Ins Co 06788 A++
 US: Tennessee
+ American General Life Insurance Company 06058 A++
 US: Texas
+ American International Life Assurance NY 06072 A++
 US: New York
+ American Life Insurance Company 06081 A++
 US: Delaware
+ Cherokee National Life Insurance Company 06214 A
 US: Georgia
+ Continental Life Ins Co of Brentwood TN 09502 A-
 US: Tennessee
+ Delaware American Life Insurance Company 06305 A++
 US: Delaware
 Dixie National Life Insurance Company 06730 NR-3
 US: Indiana
- Family Life Insurance Company 06360 B
 US: Texas
- First Sec Benefit Lf & Ann Co of NY 60104 A
 US: New York
+ First SunAmerica Life Insurance Co 09023 A++
 US: New York
+ Funeral Directors Life Insurance Co 09492 A-
 US: Texas
 Home Owners Life Insurance Company 06530 NR-3
 US: Illinois
- Investors Life Insurance Co of NA 06412 B-
 US: Texas
+ Lafayette Life Insurance Company 06617 A++
 US: Indiana
New LifeWise Health Plan of Arizona Inc 68458 B+
 US: Washington
 Medco Containment Insurance Co of NJ 60105 NR-3
 US: New Jersey
 MS Diversified Life Insurance Company 68245 NR-3
 US: Mississippi
- Security Benefit Life Insurance Company 07025 A
 US: Kansas
New Southwest Life & Health Insurance Co 06719 B
 US: Texas
 States General Life Insurance Company 07090 NR-5
 US: Texas
+ SunAmerica Life Insurance Company 07102 A++
 US: Arizona
+ Texas Imperial Life Insurance Company 68290 B+
 US: Texas
- United Investors Life Insurance Company 07175 A
 US: Missouri
+ United States Life Ins in the City of NY 07192 A++
 US: New York
 Universal Life Insurance Company 07201 NR-1
 US: Alabama
+ Variable Annuity Life Insurance Co 07208 A++
 US: Texas

 HMO

 Atrium Health Plan Inc 68611 NR-5
 US: Wisconsin
+ AvMed Inc 64074 B+
 US: Florida
 Family Health Care Plus Inc 64132 NR-5
 US: Mississippi
- Gateway Health Plan Inc 60129 B-
 US: Pennsylvania
 GreatWestHealthcare of Georgia Inc 64025 NR-2
 US: Georgia
+ Group Health Cooperative 64044 B+ pd
 US: Washington
+ Group Health Cooperative of Eau Claire 68654 B- pd
 US: Wisconsin
- Health First Health Plans 64115 B+
 US: Florida
+ Health Plan of the Upper Ohio Valley 64201 B- pd
 US: West Virginia
+ HMO of Northeastern Pennsylvania 68780 B pd
 US: Pennsylvania
New Metropolitan Health Plan 68558 B
 US: Minnesota
 Metrowest Health Plan Inc 64459 NR-5
 US: Texas
 Michigan Health Maintenance Org Plans 68917 NR-5
 US: Michigan
- New West Health Services 64398 C- pd
 US: Montana
+ Preferred Plus of Kansas Inc 68937 B- pd
 US: Kansas
+ Select Health of South Carolina Inc 64003 C++ pd
 US: South Carolina
New SHA LLC 60114 B
 US: Texas
+ Sharp Health Plan 64064 B- pd
 US: California
New UDC Ohio Inc 65707 A-
 US: Ohio

 Property/Casualty

+ Alberta Motor Association Insurance 86135 A- pd
 Canada: Alberta
+ Allied Eastern Indemnity Company 12527 A-
 US: Pennsylvania
+ Allstate Insurance Company of Canada 85704 A- pd
 Canada: Ontario
+ Alpha Assurance Company 84241 A- pd
 Canada: Quebec
+ American Physicians Assurance Corp 03670 B++
 US: Michigan
+ American Physicians Group 18645 B++
 US: Michigan
- American Resources Insurance Co, Inc 02856 B u
 US: Alabama
New Amica Property & Casualty Insurance Co 11610 A++
 US: Rhode Island
- Argus Fire & Casualty Insurance Co 11757 C-
 US: Florida
- Atlantic Preferred Insurance Co 12202 F
 US: Florida
- Bar Plan Group 18493 A-
 US: Missouri
- Bar Plan Mutual Insurance Company 00144 A-
 US: Missouri
+ Center Mutual Insurance Company 03712 B++
 US: North Dakota
+ Certas Direct Insurance Company 87026 B+ pd
 Canada: Quebec
 Citadel General Assurance Company 85726 NR-3
 Canada: Ontario
- Claremont Liability Insurance Company 10653 B++
 US: California
+ CNL/Insurance America Inc 00183 A-
 US: Georgia
 Colorado Western Insurance Company 11073 NR-5
 US: Colorado
New Columbian National Title Insurance Co 12143 A
 US: Kansas
 Commercial Mutual Insurance Company 11627 NR-5
 US: Georgia
- Compania de Fianzas de Puerto Rico 11446 C
 US: Puerto Rico
+ Cooperative Mutual Insurance Company 04364 B++
 US: Nebraska
+ Courtesy Insurance Company 10863 A
 US: Florida
 Cumberland Casualty & Surety Company 10601 NR-1
 US: Florida
- Discovery Insurance Company 11631 C++
 US: North Carolina
+ Eastern Alliance Insurance Company 12115 A-
 US: Pennsylvania
+ Eastern Alliance Insurance Grp 18592 A-
 US: Pennsylvania
 Echelon General Insurance Company 87031 B++ pd
 Canada: Ontario
+ Economical Mutual Insurance Company 85741 B++ pd
 Canada: Ontario
- Farm Bureau County Mutual Ins Co of TX 12107 A+
 US: Texas
 Farmers Home Group 03925 NR-5
 US: Minnesota
+ Farmers Home Mutual Insurance Co 00368 A-
 US: Minnesota
+ Farmers' Mutual Insurance Co (Lindsay) 86594 B++ pd
 Canada: Ontario
+ Financial Pacific Insurance Company 00143 A
 US: California
+ Florida Lawyers Mutual Insurance Company 10751 A
 US: Florida
 Florida Preferred Property Ins Co 12575 F
 US: Florida
- Folksamerica Reinsurance Company 02642 A- u
 US: New York
+ Gore Mutual Insurance Company 85752 B++ pd
 Canada: Ontario
+ Gulf States Insurance Company 10838 A-
 US: Oklahoma
New Hallmark Insurance Group 18605 A-
 US: Texas
- Industrial Alliance General Insurance Co 87053 C++ pd
 Canada: Quebec
New InnovAssur, assurances generales inc 84225 A-
 Canada: Quebec
- Litchfield Mutual Fire Insurance Company 10551 B++
 US: Connecticut
- Louisiana Farm Bureau Casualty Ins Co 02844 A+
 US: Louisiana
+ MAPFRE Insurance Company of Florida 10805 A-
 US: Florida
- Michigan Insurance Company 12137 A
 US: Michigan
 MIIX Insurance Company 03737 NR-5
 US: New Jersey
- Mississippi Farm Bureau Mutual Ins Co 00645 C+
 US: Mississippi
+ Mutual Protection Trust 55015 A+
 US: California
 Narragansett Bay Insurance Company 01750 NR-1
 US: Rhode Island
New Natl Independent Truckers Ins Co, RRG 75492 B
 US: South Carolina
+ North American Fire & Casualty Ins Co 11685 C++
 US: Louisiana
+ Ohio Indemnity Company 04813 A-
 US: Ohio
- Omega Insurance Company 02727 B
 US: Florida
New Pacific Northwest Title Insurance Co Inc 11936 A
 US: Washington
 Pafco General Insurance Company 00262 NR-5
 US: Indiana
- Patrons Fire Insurance Co of RI 10368 B++
 US: Connecticut
 Patrons Insurance Company 10818 NR-5
 US: Kansas
- Patrons Mutual Group of Connecticut 05695 B++
 US: Connecticut
- Patrons Mutual Insurance Company of CT 00753 B++
 US: Connecticut
 Pawtucket Mutual Insurance Company 00755 NR-1
 US: Rhode Island
+ Personal Insurance Company 85776 B+ pd
 Canada: Quebec
+ Phoenix Indemnity Insurance Company 10612 A-
 US: Arizona
 PIC WISCONSIN Group 18454 NR-5
 US: Wisconsin
+ Pictou County Farmers Mutual Fire Ins Co 87079 B++ pd
 Canada: Nova Scotia
+ Pioneer Insurance Company (MN) 02847 A-
 US: Minnesota
 Protective National Ins Co of Omaha 02083 NR-5
 US: Nebraska
 Quanta Indemnity Company 12644 NR-4
 US: Colorado
 Quanta Reinsurance U.S. Ltd 76086 NR-4
 Bermuda
 Quanta Specialty Lines Insurance Co 12546 NR-4
 US: Indiana
 Quanta U.S. Companies 19245 NR-5
 US: New York
 Reciprocal of America 03776 NR-5
 US: Virginia
+ Republic Western Insurance Company 03597 C++
 US: Arizona
+ Republic Western Insurance Group 18443 C++
 US: Arizona
New Securian Casualty Company 11605 A-
 US: Minnesota
- Southern Family Insurance Company Inc 11916 F
 US: Florida
- Southern Farm Bureau Casualty Group 04237 A+
 US: Mississippi
- Southern FB Casualty Ins Co 00844 A+
 US: Mississippi
- Southern FB Property Ins Co 11666 B++
 US: Mississippi
- Southern Michigan Insurance Company 04874 B+
 US: Michigan
+ Springfield Insurance Company 10813 B-
 US: California
+ State Farm Indemnity Company 11224 A-
 US: Illinois
New State Farm Indemnity Group 18688 A-
 US: Illinois
 Statesman Insurance Company 02489 NR-5
 US: Indiana
 Superior American Insurance Company 11704 NR-1
 US: Florida
 Superior Guaranty Insurance Company 11705 NR-1
 US: Florida
 Superior Insurance Company 00874 NR-1
 US: Florida
New T A Title Insurance Company 11907 A
 US: Pennsylvania
+ TD General Insurance Company 87028 B+ pd
 Canada: Ontario
- Tower Hill Preferred Insurance Company 10600 B
 US: Florida
- Tower Hill Prime Insurance Company 12359 B
 US: Florida
+ Traders General Insurance Company 85795 B+ pd
 Canada: Ontario
+ TRANSGUARD INSURANCE COMPANY 00327 A-
 US: Illinois
+ United Automobile Insurance Company 10781 B-
 US: Florida
+ United Automobile Insurance Group 18415 B-
 US: Florida
New United General Title Insurance Company 12378 A
 US: Colorado
+ Universal Insurance Company (NC) 03680 B+
 US: North Carolina
+ Waterloo Insurance Company 85801 B++ pd
 Canada: Ontario
+ Western Home Insurance Company 03561 A-
 US: Minnesota

 International

New Arab Orient Insurance Company 78183 B+
 Jordan
New FMG Insurance Limited 78332 A-
 New Zealand
New Guild Insurance Limited 77834 A-
 Australia
New Newline Insurance Company Limited 78187 A
 United Kingdom
New Novae Insurance Company Limited 78301 A-
 United Kingdom
New Pacific International Insurance Limited 78302 B+
 New Zealand
 Quanta Insurance Group 89073 NR-5
 Bermuda
 Quanta Europe Ltd 89855 NR-4
 Ireland
 Quanta Reinsurance Ltd. 89003 NR-4
 Bermuda
New Starr Excess Liab Insurance Intl Ltd 87105 A+
 Ireland
- Tasman Pacific Insurance Limited 89041 B- u
 New Zealand

Rating Previous
Action Company Name & Domicile Rating

 Life/Health

New ACE Life Insurance Company NR-3
 US: Connecticut
+ AGC Life Insurance Company A+ u
 US: Missouri
+ AIG Annuity Insurance Company A+ u
 US: Texas
+ AIG Assurance Canada A+ u
 Canada: Ontario
+ AIG Life Insurance Company A+ u
 US: Delaware
+ AIG Life Insurance Company of Canada A+ u
 Canada: Ontario
+ AIG Life Insurance Company of PR A+ u
 US: Puerto Rico
+ AIG SunAmerica Life Assurance Co A+ u
 US: Arizona
- Amedex Insurance Company A
 US: Florida
+ American Capitol Insurance Company B
 US: Texas
+ American General Assurance Company A+ u
 US: Illinois
+ American General Life and Acc Ins Co A+ u
 US: Tennessee
+ American General Life Insurance Company A+ u
 US: Texas
+ American International Life Assurance NY A+ u
 US: New York
+ American Life Insurance Company A+ u
 US: Delaware
+ Cherokee National Life Insurance Company A- u
 US: Georgia
+ Continental Life Ins Co of Brentwood TN B++ u
 US: Tennessee
+ Delaware American Life Insurance Company A+ u
 US: Delaware
 Dixie National Life Insurance Company B
 US: Indiana
- Family Life Insurance Company B+
 US: Texas
- First Sec Benefit Lf & Ann Co of NY A+
 US: New York
+ First SunAmerica Life Insurance Co A+ u
 US: New York
+ Funeral Directors Life Insurance Co B++
 US: Texas
 Home Owners Life Insurance Company A-
 US: Illinois
- Investors Life Insurance Co of NA B
 US: Texas
+ Lafayette Life Insurance Company A+
 US: Indiana
New LifeWise Health Plan of Arizona Inc NR-3
 US: Washington
 Medco Containment Insurance Co of NJ A-
 US: New Jersey
 MS Diversified Life Insurance Company A-
 US: Mississippi
- Security Benefit Life Insurance Company A+
 US: Kansas
New Southwest Life & Health Insurance Co NR-5
 US: Texas
 States General Life Insurance Company E
 US: Texas
+ SunAmerica Life Insurance Company A+ u
 US: Arizona
+ Texas Imperial Life Insurance Company B
 US: Texas
- United Investors Life Insurance Company A+
 US: Missouri
+ United States Life Ins in the City of NY A+ u
 US: New York
 Universal Life Insurance Company D
 US: Alabama
+ Variable Annuity Life Insurance Co A+ u
 US: Texas

 HMO

 Atrium Health Plan Inc A-
 US: Wisconsin
+ AvMed Inc B
 US: Florida
 Family Health Care Plus Inc F
 US: Mississippi
- Gateway Health Plan Inc B
 US: Pennsylvania
 GreatWestHealthcare of Georgia Inc A
 US: Georgia
+ Group Health Cooperative B pd
 US: Washington
+ Group Health Cooperative of Eau Claire C+ pd
 US: Wisconsin
- Health First Health Plans B++
 US: Florida
+ Health Plan of the Upper Ohio Valley C++ pd
 US: West Virginia
+ HMO of Northeastern Pennsylvania B- pd
 US: Pennsylvania
New Metropolitan Health Plan NR-5
 US: Minnesota
 Metrowest Health Plan Inc E
 US: Texas
 Michigan Health Maintenance Org Plans F
 US: Michigan
- New West Health Services C+ pd
 US: Montana
+ Preferred Plus of Kansas Inc C++ pd
 US: Kansas
+ Select Health of South Carolina Inc C pd
 US: South Carolina
New SHA LLC C+ pd
 US: Texas
+ Sharp Health Plan C pd
 US: California
New UDC Ohio Inc NR-3
 US: Ohio

 Property/Casualty

+ Alberta Motor Association Insurance B++ pd
 Canada: Alberta
+ Allied Eastern Indemnity Company B++
 US: Pennsylvania
+ Allstate Insurance Company of Canada B++ pd
 Canada: Ontario
+ Alpha Assurance Company B++ pd
 Canada: Quebec
+ American Physicians Assurance Corp B+
 US: Michigan
+ American Physicians Group B+
 US: Michigan
- American Resources Insurance Co, Inc A-
 US: Alabama
New Amica Property & Casualty Insurance Co
 US: Rhode Island
- Argus Fire & Casualty Insurance Co C+
 US: Florida
- Atlantic Preferred Insurance Co E
 US: Florida
- Bar Plan Group A
 US: Missouri
- Bar Plan Mutual Insurance Company A
 US: Missouri
+ Center Mutual Insurance Company B+
 US: North Dakota
+ Certas Direct Insurance Company B pd
 Canada: Quebec
 Citadel General Assurance Company B++ u
 Canada: Ontario
- Claremont Liability Insurance Company A-
 US: California
+ CNL/Insurance America Inc B u
 US: Georgia
 Colorado Western Insurance Company F
 US: Colorado
New Columbian National Title Insurance Co
 US: Kansas
 Commercial Mutual Insurance Company E
 US: Georgia
- Compania de Fianzas de Puerto Rico B
 US: Puerto Rico
+ Cooperative Mutual Insurance Company B+
 US: Nebraska
+ Courtesy Insurance Company A-
 US: Florida
 Cumberland Casualty & Surety Company E
 US: Florida
- Discovery Insurance Company B-
 US: North Carolina
+ Eastern Alliance Insurance Company B++
 US: Pennsylvania
+ Eastern Alliance Insurance Grp B++
 US: Pennsylvania
 Echelon General Insurance Company NR-2
 Canada: Ontario
+ Economical Mutual Insurance Company B+ pd
 Canada: Ontario
- Farm Bureau County Mutual Ins Co of TX A++
 US: Texas
 Farmers Home Group B+ u
 US: Minnesota
+ Farmers Home Mutual Insurance Co B+ u
 US: Minnesota
+ Farmers' Mutual Insurance Co (Lindsay) B+ pd
 Canada: Ontario
+ Financial Pacific Insurance Company A-
 US: California
+ Florida Lawyers Mutual Insurance Company A-
 US: Florida
 Florida Preferred Property Ins Co NR-4
 US: Florida
- Folksamerica Reinsurance Company A
 US: New York
+ Gore Mutual Insurance Company B+ pd
 Canada: Ontario
+ Gulf States Insurance Company B+ u
 US: Oklahoma
New Hallmark Insurance Group
 US: Texas
- Industrial Alliance General Insurance Co B pd
 Canada: Quebec
New InnovAssur, assurances generales inc NR-2
 Canada: Quebec
- Litchfield Mutual Fire Insurance Company A-
 US: Connecticut
- Louisiana Farm Bureau Casualty Ins Co A++
 US: Louisiana
+ MAPFRE Insurance Company of Florida B++
 US: Florida
- Michigan Insurance Company A+
 US: Michigan
 MIIX Insurance Company E
 US: New Jersey
- Mississippi Farm Bureau Mutual Ins Co B u
 US: Mississippi
+ Mutual Protection Trust A
 US: California
 Narragansett Bay Insurance Company E
 US: Rhode Island
New Natl Independent Truckers Ins Co, RRG NR-1
 US: South Carolina
+ North American Fire & Casualty Ins Co C
 US: Louisiana
+ Ohio Indemnity Company B++
 US: Ohio
- Omega Insurance Company B++ u
 US: Florida
New Pacific Northwest Title Insurance Co Inc
 US: Washington
 Pafco General Insurance Company E
 US: Indiana
- Patrons Fire Insurance Co of RI A-
 US: Connecticut
 Patrons Insurance Company A-
 US: Kansas
- Patrons Mutual Group of Connecticut A-
 US: Connecticut
- Patrons Mutual Insurance Company of CT A-
 US: Connecticut
 Pawtucket Mutual Insurance Company E
 US: Rhode Island
+ Personal Insurance Company B pd
 Canada: Quebec
+ Phoenix Indemnity Insurance Company B+
 US: Arizona
 PIC WISCONSIN Group A-
 US: Wisconsin
+ Pictou County Farmers Mutual Fire Ins Co B+ pd
 Canada: Nova Scotia
+ Pioneer Insurance Company (MN) B+ u
 US: Minnesota
 Protective National Ins Co of Omaha F
 US: Nebraska
 Quanta Indemnity Company B
 US: Colorado
 Quanta Reinsurance U.S. Ltd B
 Bermuda
 Quanta Specialty Lines Insurance Co B
 US: Indiana
 Quanta U.S. Companies B
 US: New York
 Reciprocal of America F
 US: Virginia
+ Republic Western Insurance Company C
 US: Arizona
+ Republic Western Insurance Group C
 US: Arizona
New Securian Casualty Company NR-2
 US: Minnesota
- Southern Family Insurance Company Inc E
 US: Florida
- Southern Farm Bureau Casualty Group A++
 US: Mississippi
- Southern FB Casualty Ins Co A++
 US: Mississippi
- Southern FB Property Ins Co A- u
 US: Mississippi
- Southern Michigan Insurance Company B++
 US: Michigan
+ Springfield Insurance Company C++
 US: California
+ State Farm Indemnity Company B++
 US: Illinois
New State Farm Indemnity Group
 US: Illinois
 Statesman Insurance Company E
 US: Indiana
 Superior American Insurance Company E
 US: Florida
 Superior Guaranty Insurance Company E
 US: Florida
 Superior Insurance Company E
 US: Florida
New T A Title Insurance Company
 US: Pennsylvania
+ TD General Insurance Company B pd
 Canada: Ontario
- Tower Hill Preferred Insurance Company A-
 US: Florida
- Tower Hill Prime Insurance Company A-
 US: Florida
+ Traders General Insurance Company B pd
 Canada: Ontario
+ TRANSGUARD INSURANCE COMPANY B u
 US: Illinois
+ United Automobile Insurance Company C++
 US: Florida
+ United Automobile Insurance Group C++
 US: Florida
New United General Title Insurance Company
 US: Colorado
+ Universal Insurance Company (NC) B
 US: North Carolina
+ Waterloo Insurance Company B+ pd
 Canada: Ontario
+ Western Home Insurance Company B+ u
 US: Minnesota

 International

New Arab Orient Insurance Company
 Jordan
New FMG Insurance Limited
 New Zealand
New Guild Insurance Limited
 Australia
New Newline Insurance Company Limited
 United Kingdom
New Novae Insurance Company Limited
 United Kingdom
New Pacific International Insurance Limited
 New Zealand
 Quanta Insurance Group B
 Bermuda
 Quanta Europe Ltd B
 Ireland
 Quanta Reinsurance Ltd. B
 Bermuda
New Starr Excess Liab Insurance Intl Ltd NR-5
 Ireland
- Tasman Pacific Insurance Limited B+ u
 New Zealand

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

 AIMCO Mutual Insurance Co 12543 A- u A-
 US: North Carolina

 Physicians Insurance Company 10595 A- u A-
 of WI, Inc
 US: Wisconsin

 International

 Glacier Reinsurance AG 77461 A- u A-
 Switzerland

 Primary Insurance Company Ltd 77341 B++ u B++
 Ireland

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 ongoing 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
 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
 ongoing 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 ongoing obligations to
 policyholders and 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
 ongoing obligations to policyholders
 and 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
 ongoing 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 Assigned to companies that have been
 Liquidation 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
 whereby 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) 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.

Modifier Descriptor Definition

Rating Modifiers

u Under A modifier that generally is event-x
 Review company whose Best's Rating opinion is
 under review and may be subject to
 change driven (positive, negative or
 developing) and is assigned to a 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 Size and/ NR-3: Rating
Data. or Operating Experience. Procedure
 Inapplicable

NR-4: Company NR-5: Not Formally Followed.
Request.

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 will change in the near term.

Best's Ratings are distributed via press release and/or the A.M.
Best Web site at wwwambest.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) 2006 by A.M. Best Company,
Inc.

Version 031606
COPYRIGHT 2006 A.M. Best Company, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:Ratings
Publication:Best's Review
Article Type:Statistical table
Geographic Code:1USA
Date:Aug 1, 2006
Words:3829
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