S&P Asgns Southern Farm Bureau Annuity Ins 'A' pi Rtg.NEW YORK--(BUSINESS WIRE)--Standard & Poor's CreditWire 6/23/98--Standard & Poor's today assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. its single-'A' pi insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. financial strength rating to Southern Farm Bureau Annuity annuity: see insurance. annuity Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. Insurance Co. Southern Farm Bureau Annuity Insurance Co. is licensed in 10 states. Its major line of business is annuities, and it is a member of Southern Farm Group, a large insurance group. The company commenced operations in 1982. The following factors are incorporated in the single-'A' pi insurer financial strength 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 superior with a coverage in excess of 3 times (x) of Standard & Poor's risk-adjusted capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. ; -- The company benefits from its strong regional presence and the marketing force of its affiliated property/casualty companies; -- The company's investment profile is aggressive with a 51.5 % of its invested assets in CMOs and loan backed bonds as of year end 1997; -- The company's risk asset position impacts liquidity with a score of 101.8% on Standard & Poor's liquidity ratio; and -- The company's rating currently benefits from its affiliate relationship with Southern Farm Bureau Life Insurance Co. 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 published financial information and additional information in the public domain. They do not reflect in-depth in-depth adj. Detailed; thorough: an in-depth study. in-depth Adjective detailed or thorough: an in-depth analysis meetings with an insurer's management nor do they incorporate material non-public information, 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 an insurer's financial security occurs. The `pi' rating process covers U.S insurers to which Standard & Poor's previously assigned quantitative (`q') ratings, and may include information beyond that used to derive the previous quantitative-only ratings. Pi ratings are not modified with 'plus' or 'minus' designations, nor are they subject to potential CreditWatch listings. ---CreditWire CONTACT: Alan Koerber, 212/208-1528 For more information on criteria or subscriptions: http://www.ratings.standardpoor.com |
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