Financial Strength Rating of SCPIE Holdings' Insurance Subsidiaries Upgraded by A.M. Best.LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- SCPIE SCPIE Southern California Physicians Insurance Exchange Holdings Inc. (NYSE NYSE See: New York Stock Exchange :SKP SKP Suomen Kommunistinen Puolue (Communist Party of Finland) SKP Sveriges Kommunistiska Parti (Communist Party of Sweden) SKP Sisemajanduse Koguproduktist (Estonian) ) announced today that its insurance company subsidiaries CoSCPIE Indemnity Company, American Healthcare Indemnity Company, and American Healthcare Specialty Insurance Company Co have had their financial strength rating upgraded to B+ (Very Good), a "secure" rating, by the A.M. Best Company, the leading rating organization for the insurance industry. In announcing the upgrade, A.M. Best said the outlook for the ratings is stable. In addition, Best reiterated that SCPIE's earnings returned to profitability in 2005, "and during this most-recent period, management has also been extremely successful in reducing underwriting and reserve leverage, which has elevated SCPIE's capital adequacy to a level that is more reflective of its current ratings." "We are pleased that A.M. Best has taken this action," said Donald J. Zuk, SCPIE President and Chief Executive Officer. "We have worked diligently over the past few years to improve our capital adequacy ratios, and it is gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. to see that our turnaround strategies have been affirmed." About SCPIE Holdings SCPIE Holdings Inc. is a leading provider of healthcare liability insurance for physicians, oral and maxillofacial surgeons Oral and maxillofacial surgeon A dentist who is trained to perform surgery to correct injuries, defects, or conditions of the mouth, teeth, jaws, and face. Mentioned in: Jaw Wiring , and other healthcare providers, as well as medical groups and healthcare facilities. Since the company was founded in 1976, it has carved out a significant niche in the insurance industry by providing innovative products and services specifically for the healthcare community. |
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