Fitch Withdraws Rating of CNA's Transcontinental Insurance Company.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 has withdrawn the 'A' insurer financial strength (IFS) rating of CNA Financial CNA Financial Corporation (NYSE: CNA) is a financial corporation based in Chicago, Illinois, United States, and noted for its 600 foot tall red headquarters building there. Its principal subsidiary, Continental Casualty Company (CCC) was founded in 1897. Corporation's (CNA (Certified NetWare Administrator) See Novell certification. ) insurance subsidiary Transcontinental Insurance Company due to the merger of this entity into its direct parent company, National Fire Insurance Company of Hartford, effective Dec. 31, 2007. All other ratings of CNA and its insurance subsidiaries are not affected by this action. This merger marks the completion of a multi-year initiative to streamline CNA's property-casualty legal entity structure. The following rating is withdrawn by Fitch: Transcontinental Insurance Company --Insurer financial strength at 'A'. 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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