Central National Life Insur Co of Omaha Rtd Api by S&P.NEW YORK--(BUSINESS WIRE)--Standard & Poor's CreditWire 10/13/98--Standard & Poor's today assigned its single-'Api' insurer financial strength rating to Central National Life Ins Co. of Omaha. Central National Life is licensed in all states except New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. , and the US Virgin Islands. The company is owned by Beneficial Corp., a financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company which was acquired by Household International Inc. in April, 1998. Central National provides credit life and credit disability coverages, sold through the beneficial consumer finance network. The company commenced operations in 1953. The following factors were incorporated in the rating of single-'Api'. -- Standard & Poor's believes that the company is a strategically important member of the Household Finance group, and therefore group support is a factor in the rating. -- Capitalization capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. is strong; 136.2% under Standard & Poor's capital model in 1997. -- Profitability is strong, as indicated by Standard & Poor's earnings adequacy ratio of over 300%. -- Net premiums have been volatile over the past five years. -- Net investment yield has displayed volatility over the past five years. '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. The ratings 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. 2. 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 |
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