Fitch Withdraws Ratings of ACE US Subsidiaries Merged at Year-End 2005.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. today withdrew the 'A+' insurance financial strength ratings of ACE Employers Insurance Company, ACE Insurance Company of Texas, Allied Insurance Company and INA Ina (ē`nä), city (1990 pop. 60,062), Nagano prefecture, central Honshu, Japan, on the Tenryu River. It is an agricultural and industrial center with a famous agricultural school. Surplus Insurance Company due to the merger of the companies into other U.S. insurance subsidiaries of ACE Limited. ACE Employers Insurance Company, ACE Insurance Company of Texas, and Allied Insurance Company were merged into ACE American Insurance Company. INA Surplus Insurance Company was merged into Illinois Union Insurance Company. No other Fitch ratings are affected by the consolidations. The following individual ratings are affected: ACE Employers Insurance Company ACE Insurance Company of Texas Allied Insurance Company INA Surplus Insurance Company -- Insurer Financial Strength Ratings (IFS) withdrawn at 'A+'. The ACE Group of Companies is one of the world's largest providers of property and casualty insurance and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. . Headquartered in Bermuda, ACE provides a diversified diversified (di·verˑ·s range of products and services to clients in nearly 50 countries around the world. 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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