News
A.M. Best Places Ratings of Response Insurance Group and Its Members Under Review with Positive Implications
OLDWICK, N.J.-(Business Wire)-September 4, 2008 - A.M. Best Co. has placed the financial strength rating (FSR) of B++ (Good) and issuer credit rating (ICR) of “bbb†of Response Insurance Group (Response) and its following members under review with positive implications: Response Insurance Company, Connecticut Life & Casualty Insurance Company, National Merit Insurance Company (Bellevue, WA), Response Worldwide Direct Auto Insurance, Response Worldwide Insurance Company, Warner Insurance Company and its separately rated member, Response Indemnity Company of California (Culver City, CA). All companies are domiciled in Meriden, CT unless otherwise specified. These rating actions do not affect the non-rated member of the group, Response Indemnity Company (Melville, NY).
These rating actions are based on the announcement that a definitive agreement has been reached for the purchase of Direct Response Corporation (Wilmington, DE), the holding company for the Response Insurance Group, by Trinity Universal Insurance Company (Trinity) (Dallas, TX), the lead company of Unitrin Property and Casualty Insurance Group (Unitrin). The acquired companies will eventually be reinsured through a quota-share agreement with Trinity. Unitrin currently operates a direct sales segment, which will be expanded following the completion of the acquisition, since Response utilizes a direct sales approach to market its business.
For Best’s Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.
Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.
 |
 |
 |
|
||
 |
|
 |
|
||
Search Our News Using Google Search
Can't find what you want? Try using Google:
