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Article: A.M. Best Lowers Rating for American Republic.
- Article from:
- Business Wire
- Article date:
- November 27, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
OLDWICK, N.J.--(BUSINESS WIRE)--Nov. 27, 2001
A.M. Best Co. has lowered the financial strength rating of A (Excellent) to A- (Excellent) for American Republic Insurance Company, Des Moines, Iowa, and removed the negative outlook.
The lower rating reflects American Republic's concentration and exposure to earnings volatility in the individual major medical and Medicare supplement markets, which combined represents nearly 90% of total net premiums written, A.M. Best's increasing concerns regarding the individual major medical market and the company's relatively modest earnings performance. After experiencing weakness in recent ...