Fitch Updates Q-IFS Ratings on Philadelphia Contribution Group.CHICAGO -- Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has issued a new quantitative insurer financial strength (Q-IFS) rating to The Philadelphia Contributionship for the Insurance of Houses From Loss by Fire (TPC (Transaction Processing Performance Council, San Francisco, CA, www.tpc.org) An organization devoted to benchmarking transaction processing systems. In order to derive the number of transactions that can be processed in a given time frame, TPC benchmarks measure the total performance of ) as the company now meets Fitch's criteria to receive a Q-IFS rating based on the recent introduction of an intercompany pooling arrangement within the organization. In addition, Fitch has upgraded the Q-IFS rating for TPC's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Germantown Insurance Company to 'BBBq' from 'BBq'. For more information on Fitch's Q-IFS ratings, visit the Fitch Ratings web site at www.fitchratings.com. A copy of the criteria report 'Quantitative Insurer Financial Strength Ratings Methodology: U.S. Property/Casualty Insurers', dated Nov. 3, 2005, is available under 'Insurance' and 'Criteria Reports'. Fitch has assigned the following Quantitative Insurer Financial Strength (Q-IFS) rating: The Philadelphia Contributionship for the Insurance of Houses From Loss by Fire (NAIC NAIC See National Association of Investors Corporation (NAIC). 17930) --Q-IFS 'BBBq'. Fitch has upgraded the following Q-IFS rating: Germantown Insurance Company (NAIC 11282) --Q-IFS to 'BBBq' from 'BBq'. Fitch has affirmed the following Q-IFS rating: Philadelphia Contributionship Insurance Company (NAIC 17914) --Q-IFS at 'BBBq'. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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