Business Services Industry
A.M. Best Affirms and Assigns Ratings to North Coast Life Insurance Company
Business Wire, March 26, 2007
OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating (FSR) of C (Marginal) and has assigned an issuer credit rating (ICR) of "b " to North Coast Life Insurance Company (North Coast Life) (Spokane, WA). The outlook for both ratings is stable.
The assigned ratings reflect North Coast Life's low level of risk-adjusted capitalization, elevated level of below investment grade bond holdings and a decline in its new premium production.
Partially offsetting these rating factors are the continued positive net operating gains and recent restructuring of North Coast Life's investment portfolio.
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 full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors. For more information, visit www.ambest.com.
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