Printer Friendly

A.M. BEST COMPANY UPGRADES HANOVER INSURANCE COMPANY RATING; REAFFIRMS RATING FOR CITIZENS INSURANCE COMPANY OF AMERICA

 WORCESTER, Mass., April 20 /PRNewswire/ -- Allmerica Property & Casualty Companies, Inc. (Allmerica P & C) (NYSE: APY), a national property and casualty insurance holding company whose most significant business holdings are the Hanover Insurance Company (Hanover) and Citizens Corporation (Citizens), (NYSE: CZC), today announced that the A.M. Best Company has upgraded its rating of Hanover from "A-" (Excellent) to "A" (Excellent) and reaffirmed its "A+" (Superior) rating of Citizens Insurance Company of America (Citizens Insurance), a wholly- owned subsidiary of Citizens.
 "We are extremely pleased with the improved rating at Hanover and the reaffirmed superior rating of Citizens Insurance," said John F. O'Brien, Allmerica P & C president and chief executive officer. "These ratings reflect our strong financial position and the continued effectiveness of our operating strategies. Best's rating action is particularly significant in view of the many challenges facing the property and casualty industry."
 Allmerica P & C is a member of Allmerica Financial, a diversified group of insurance and financial services companies based in Worcester, Mass.
 The Allmerica Financial companies are: State Mutual Life Assurance Company of America; SMA Life Assurance Company; Allmerica Trust Company, N.A.; 440 Financial Group of Worcester, Inc.; Allmerica P & C; Hanover; Citizens; Citizens Insurance; AMGRO Inc.; Sterling Risk Management Services, Inc.; Allmerica Investments, Inc.; Allmerica Investment Management Company, Inc.; Allmerica Investment Trust; and State Mutual Securities Trust.
 -0- 4/20/93
 /CONTACT: Edward J. Parry III, vice president and treasurer, 508-855-4600 or Michael F. Buckley, director of public information, 508-855-3099, both of Allmerica Property & Casualty Companies, Inc.
 (APY CZC)


CO: Allmerica Property & Casualty Companies, Inc.; Citizens Insurance ST: Massachusetts IN: INS SU:

CH -- NE021 -- 8249 04/20/93 15:55 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 20, 1993
Words:276
Previous Article:KEY MANAGEMENT APPOINTMENTS MADE AT VSI FASTENERS; COMPANY GEARS UP FOR MAJOR STRATEGIC PLAYS IN DIY HARDWARE
Next Article:/C O R R E C T I O N -- CHASE MANHATTAN/
Topics:


Related Articles
/FIRST ADD -- A.M. BEST RELEASES 1993 RATINGS FOR 150 INSURERS/
RLI SUBSIDIARY AWARDED UPGRADED RATING FROM A.M. BEST COMPANY; MT. HAWLEY INSURANCE COMPANY NOW RATED "A"
PROVIDIAN LIFE AND HEALTH INSURANCE RECEIVES SECOND UPGRADE FROM DUFF & PHELPS IN TWO YEARS; OTHER PROVIDIAN COMPANIES REAFFIRMED
DCR: ING America Insurance Holdings, Inc. Acquisition of Equitable of Iowa Companies Raises Insurance Companies' Claims Paying Ability Ratings
DCR Reaffirms Allmerica Financial Corporation.
Best's Rating Changes. (Ratings).
Best Rating Changes. (Ratings).
Rating actions.
Rating actions.
Rating actions.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters