Best's rating changes.
This summary of Best's Rating Changes includes life, health-care and property/casualty insurers domiciled in North America, as well as international insurers that had ratings assigned, changed or placed under review since this section last appeared in the September 2003 edition of Best's Review.Best's Rating Changes is an abbreviated version of Best's Rating Monitor, which is published in BestWeek, our weekly insurance industry newsletter. See page 18 for the Guide to Best's Financial Strength Ratings or visit the A.M. Best Co. Web site at www.ambest.com/ratings/guide.html for detailed rating definitions.
The A.M. Best rating of any company and basic company information are "also available free of charge at the Web site.
Ratings Changed Rating Current Previous Action Company Name & Domicile AMB# Rating Rating Life Acceleration Life Insurance Company 08472 NR-3 A- US: Ohio + AXA Corporate Solutions Life 09083 B+ B Reinsurance US: Delaware - EMC National Life Company 06339 B++ A- u US: Iowa - Munich American Reassurance Company 06746 A+ A++ US: Georgia National Travelers Life Company 06806 NR-5 B+ u US: Iowa HMO Coordinated Care Solutions of 04746 E NR-5 Texas Inc US: Texas Health Plan of the Redwoods 68991 NR-5 F US: California - XANTUS Healthplan of Tennessee Inc 68883 F E US: Tennessee Property/Casualty New Associated Industries Mutual Ins Co 12543 A- NR-5 US: North Carolina + AXA Corporate Solutions 03811 B+ B Reinsurance Co US: Delaware New Encompass Home and Auto Ins Co 12535 A- NR-3 US: Illinois New Encompass Independent Insurance 12536 A- NR-3 Company US: Illinois New Encompass Insurance Company of 11703 A- NR-3 America US: Illinois New Encompass Property & Casualty 11702 A- NR-3 Company US: Illinois New Guardian Insurance Company, Inc 11328 B+ NR-5 US: U.S. Virgin Islands - Legion Indemnity Company 11860 F E US: Illinois - Legion Insurance Company 02352 F E US: Pennsylvania - Munich Reinsurance Company of Canada 85770 A+ A++ Canada: Ontario + North East Insurance Company 03108 B+ B US: Maine North East Insurance Group 02974 NR-5 B US: Maine Pacific Automobile Insurance Company 02880 NR-5 E US: California - Pacific National Insurance Company 02376 F E US: California THI Holdings Group 18534 NR-5 A- u US: Ohio + Titan Indemnity Company 00548 A+ A- u US: Texas + Titan Insurance Company 10709 A+ A- u US: Michigan - Transguard Insurance Company of 00327 A- u A America US: Illinois + Victoria Automobile Insurance 11688 A+ A- u Company US: Indiana + Victoria Fire & Casualty Company 00671 A+ A- u US: Ohio + Victoria National Insurance Company 12059 A+ A- u US: Ohio + Victoria Select Insurance Company 11689 A+ A- u US: Ohio + Victoria Specialty Insurance Company 12058 A+ A- u US: Ohio - Villanova Insurance Company 12110 F E US: Pennsylvania International New Glencoe Group 89072 A Bermuda - Great Lakes Reinsurance (UK) PLC 86160 A+ A++ United Kingdom - Monegasque de Reassurances S.A.M. 86909 NR-3 C- Monaco - Muenchener Rueckversicherungs 86577 A+ A++ Germany - Munich Reinsurance Co of 86473 A+ A++ Australasia Ltd Australia - Munich Reinsurance Company of 86474 A+ A++ Africa Ltd South Africa - Munich Reinsurance Italy S.p.A. 86475 A+ A++ Italy - National Warranty Ins RRG 11609 F C- u Cayman Islands - New Reinsurance Company 85060 A+ A++ Switzerland New Pioneer Insurance Company Limited 89069 B+ New Zealand Reinsurance Australia Corporation 86440 NR-3 C- Australia Reinsurance Australia Corporation 86906 NR-3 C- Group Australia Rating Action: (+) or (-) Rating upgraded or downgraded; (New) Assigned initial rating; (u) Rating placed under review GUIDE TO BEST'S FINANCIAL STRENGTH RATINGS A Best's Rating is an independent opinion, based on a comprehensive quantitative and qualitative evaluation, of a company's balance sheet strength, operating performance and business profile. Best's Ratings are not a warranty of a company's financial strength and ability to meet its obligations to policyholders. Financial Strength Ratings A Best's Financial Strength Rating (FSR) is an opinion of an insurer's ability to meet its obligations to policyholders. Rating Descriptor Definition Secure A++, A+ Superior Assigned to companies that have, in our opinion, a superior ability to meet their ongoing obligations to policyholders. A, A- Excellent Assigned to companies that have, in our opinion, an excellent ability to meet their ongoing obligations to policyholders. B++, B+ Very Good Assigned to companies that have, in our opinion, a good ability to meet their ongoing obligations to policyholders. Vulnerable B, B- Fair Assigned to companies that have, in our opinion, a fair ability to meet their current obligations to policyholders, but are financially vulnerable to adverse changes in underwriting and economic conditions. C++, C+ Marginal Assigned to companies that have, in our opinion, a marginal ability to meet their current obligations to policyholders, but are financially vulnerable to adverse changes in underwriting and economic conditions. C, C- Weak Assigned to companies that have, in our opinion, a weak ability to meet their current obligations to policyholders, but are financially very vulnerable to adverse changes in underwriting and economic conditions. D Poor Assigned to companies that, in our opinion, may not have an ability to meet their current obligations to policyholders and are financially extremely vulnerable to adverse changes in underwriting and economic conditions. E Under Assigned to companies (and possibly their Regulatory subsidiaries/affiliates) that have been Supervision placed by an insurance regulatory authority under a significant form of supervision, control or restraint whereby they are no longer allowed to conduct normal ongoing insurance operations. This would include conservatorship or rehabilitation, but does not include liquidation. It may also be assigned to companies issued cease and desist orders by regulators outside their home state or country. F In Liquidation Assigned to companies that have been placed under an order of liquidation by a court of law or whose owners have voluntarily agreed to liquidate the company. Note: Companies that voluntarily liquidate or dissolve their charters are generally not insolvent. S Suspended Assigned to companies that have experienced sudden and significant events affecting their balance sheet strength or operating performance and whose rating implications cannot be evaluated or due to a lack of timely or adequate information. Rating Modifiers and Affiliation Codes A rating modifier can be assigned to indicate that a Best's Rating may be subject to near-term change (under review), that a company did not subscribe to Best's interactive rating process (public data) and that the rating is assigned to a syndicate operating at Lloyd's. Affiliation codes (g, p, and r) are added to Best's Ratings to identify companies whose assigned ratings are based on group, pooling or reinsurance affiliation with other insurers. Modifier Descriptor Definition Rating Modifiers u Under Review A modifier that generally is event-driven (positive, negative or developing) and is assigned to a company whose Best's Rating opinion is under review and may be subject to change in the near-term, generally defined as six months. pd Public Data Assigned to insurers that do not subscribe to Best's interactive rating process. Best's "pd" Ratings reflect qualitative and quantitative analyses using public data and information. s Syndicate Assigned to syndicates operating at Lloyd's. Affiliation Codes g Group p Pooled r Reinsured Not Rated Categories (NR) Assigned to companies reported on by A.M. Best, but not assigned a Best's Rating. The five categories are: NR-1: Insufficient NR-2: Insufficient NR-3: Rating Procedure Data. Size and/or Operating Inapplicable. Experience. NR-4: Company NR-5: Not Formally Request. Followed. Rating Outlook Best's interactive Ratings (A++ to D) are assigned a Rating Outlook that indicates the potential direction of a company's rating for an intermediate period, generally defined as the next 12 to 36 months. Rating Outlooks, which appear in the rating rationale section of the company's Best's Company Report, are as follows: Positive Indicates a company's financial/market trends are favorable, relative to its current rating level and, if continued, the company has a good possibility of having its rating upgraded. Negative Indicates a company is experiencing unfavorable financial/market trends, relative to its current rating level and, if continued, the company has a good possibility of having its rating downgraded. Stable Indicates a company is experiencing stable financial/market trends and there is a low likelihood that its rating will change in the near term. Best's Ratings are distributed via press release and/or the A.M. Best Web site at www.ambest.com, and are published in the Rating Monitor section of BestWeek[R]. Best's Ratings are proprietary and may not be reproduced without permission.
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| Title Annotation: | Ratings |
|---|---|
| Publication: | Best's Review |
| Geographic Code: | 1USA |
| Date: | Oct 1, 2003 |
| Words: | 1388 |
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