Business Services Industry
A.M. Best Withdraws Ratings of The Doctors' Life Insurance Company
Business Wire, Jan 17, 2008
OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating (FSR) of B (Good) and assigned an issuer credit rating (ICR) of "bbb-" to The Doctors' Life Insurance Company (Doctors' Life). The outlook for both ratings is stable. Doctors Life is a wholly owned subsidiary of The Doctors Company, An Interinsurance Exchange (both of Napa, CA).
Subsequently, A.M. Best has withdrawn the FSR and ICR and assigned the company a category NR-4 (Company Request) in response to management's request that Doctors' Life be removed from A.M. Best's interactive rating process.
The ratings of the company have historically reflected its positive operating results and favorable absolute and risk-adjusted capital position relative to its insurance and investment risks. However, A.M. Best does note that Doctors' Life's operating earnings primarily are derived from its conservative investment income since it ceased writing new business in 1985. Due to the current adequate levels of absolute and risk-adjusted capitalization, A.M. Best believes that Doctors' Life currently has the ability to meet its ongoing obligations and anticipates an orderly run off of its remaining 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.
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