S&P’s affirmed the triple “Bpi” financial strength rating assigned to Salem-based Northwest Physicians Mutual Insurance Co. (NPMI). In 1998, the company, whose major states of operation are Oregon and California, had $30.8 million in surplus. Furthermore, NPMI is the largest …
For the eighth consecutive year, A.M. Best bestowed an “A++” rating on Erie Insurance Group and all its p/c companies. Best indicated that the basis for the rating derived from a number of factors, including the strength of Erie Insurance’s …
S&P’s affirmed its financial strength rating on Milbank Insurance Co., a stock company licensed in 22 states whose primary lines of business are private passenger auto and homeowners insurance. Milbank, a member of State Auto Group, receives 10 percent of …
An issue of floating-rate notes, the payouts for which are linked to an index of California earthquakes, was assigned a “BB” rating by S&P. The annual probability that monies in the collateral account would be required to pay claims was …
FM Global was assigned its first rating by A.M. Best Co., an “A+,” in recognition of the insurer’s superior financial strength, increased capacity and market profile. Best also stated that the 1999 merger of Factory Mutual System companies and their …
Standard & Poor’s (S&P) long-term rating on the Frontier Insurance Co.-supported medium-term note issue was lowered from “BBB+” to “BB+.” The note issue’s implied short-term rating was lowered from “A-2” to “B,” and the issue was placed on CreditWatch, implications …
The “A+” claims paying ability rating on the Bermuda-domiciled Arrow Reinsurance Company Ltd. (Arrow Re) was reaffirmed by DCR. The rating outlook is stable. Arrow Re is a wholly owned subsidiary of New York-based Goldman Sachs Group Inc., whose strength …
Duff & Phelps Credit Rating Co. (DCR) has made several ratings changes for Fremont General Corp. Fremont’s senior debt rating was lowered from “BBB” to “BBB-” while the preferred securities of Fremont’s subsidiary, Fremont General Financing I, were raised from …
Fitch IBCA announced that Travelers Property Casualty Corporation’s unsecured senior debt rating of “AA-” and its preferred stock rating of “A+” were placed on RatingAlert Positive. Moreover, Travelers P&C’s commercial paper rating of “F1+” was affirmed. The action follows a …
Following a 10-month investigation by the CDI Fraud Division, Tina Anne Musso, also known as Tina Triano, was arraigned on insurance fraud charges. On Dec. 13, 1996, Musso allegedly filed a theft report with the San Jose Police Department. She …
