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Castle Insurance Co. Assigned 'Api' Rating by S&P.

NEW YORK--(BUSINESS WIRE)--Standard & Poor's CreditWire 9/4/98--Standard & Poor's today assigned its single-`Api' insurer financial strength rating to Castle Insurance Co.

The company is licensed in 14 states, and the principle state in which it operates is Michigan. The company commenced operations in 1964. It writes motorcycle motorcycle, motor vehicle whose design is based on the bicycle. The German inventor Gottlieb Daimler is generally credited with building the first practical motorcycle in 1885. The motorcycle did not become dependable and popular, however, until after 1900.  policies and travel-related insurance. Castle participates in an interaffiliate pool with two affiliated companies Affiliated Companies

A situation that occurs when one company owns a minority interest (less than 50%) in another company.

Also refers to companies that are related to each other in some way.

An affiliated company is sometimes referred to as a subsidiary.
. The pool members are affiliated with AAA AAA: see American Automobile Association.

(Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied.
 Michigan/Wisconsin Inc., a member of the American Automobile Association American Automobile Association (AAA), federation of American automobile clubs, est. 1902. AAA provides a number of benefits to its members, including emergency road service; national and international travel assistance, e.g. , and provide insurance to its members. American Automobile Association is a leading automotive and travel service provider.

The company meets Standard & Poor's rating criteria for pool members, and therefore is assigned the single-`Api' rating of qualifying members of the Automobile Club Michigan Pool.

`Pi' ratings, denoted with a pi subscript (1) In word processing and scientific notation, a digit or symbol that appears below the line; for example, H2O, the symbol for water. Contrast with superscript.

(2) In programming, a method for referencing data in a table.
, are insurer financial strength ratings based on an analysis of an insurer's published financial information and additional information in the public domain. They do not reflect in-depth meetings with an insurer's management and are therefore based on less comprehensive information than ratings without a 'pi' subscript. Pi ratings are reviewed annually based on a new year's financial statements, but may be reviewed on an interim basis if a major event that may affect the insurer's financial security occurs. Ratings with a pi subscript are not subject to potential CreditWatch listings.

Ratings with a pi subscript generally are not modified with 'plus' or 'minus' designations. However, such designations may be assigned when the insurer's financial strength rating is constrained con·strain  
tr.v. con·strained, con·strain·ing, con·strains
1. To compel by physical, moral, or circumstantial force; oblige: felt constrained to object. See Synonyms at force.

 by sovereign risk Sovereign Risk

The risk that a foreign central bank will alter its foreign-exchange regulations thereby significantly reducing or completely nulling the value of foreign-exchange contracts.
 or the credit quality of a parent company or affiliated group, Standard & Poor's said.---CreditWire

CONTACT: Jean Carberry, 212/208-5576

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Publication:Business Wire
Date:Sep 4, 1998
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