A.M. Best Withdraws Credit Ratings of United Automobile Insurance Company
The downgrade of UAIC’s Long-Term ICR reflects the company’s continuing deterioration in earnings and risk-adjusted capitalization, as well as the decline in policyholders’ surplus. Over the latest five-year period, UAIC reported cumulative underwriting and operating losses that resulted in negative pre-tax returns on revenue, and combined and operating ratios that compared unfavorably with the non-standard auto composite. Significant reserve strengthening occurred in most of the past five years, related to the personal injury protection (PIP) line in
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings.
Copyright © 2016 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161122006032/en/
Senior Financial Analyst
[email protected]
or
Director
[email protected]
or
Manager, Public Relations
[email protected]
or
Director, Public Relations
[email protected]
Source:
Separate Account No 45 of Axa Equitable Life Insurance Co Files SEC Form 497, Definitive Materials (Nov. 15, 2016)
Lincoln National Corp. Files SEC Form 4, Statement of Changes in Beneficial Ownership of Securities (Nov. 10, 2016)
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News