OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. has upgraded the banking backbone ratings (FSR) to A (Excellent) from A- (Excellent) and issuer acclaim ratings (ICR) to “a” from “a-” of Praetorian Allowance Aggregation (Praetorian) (Harrisburg, PA) and NAU Country Allowance Aggregation (NAU) (Ramsey, MN), both are operating companies of QBE Americas Group (QBE Americas). In addition, A.M. Best has affirmed the FSRs and ICRs of added operating entities of QBE Americas, which accommodate QBE Re Group – US (QBE Re) (New York, NY) and its members, North Pointe Allowance Aggregation (NPIC) (Southfield, MI) and North Pointe Casualty Allowance Aggregation (NPCIC) (Jacksonville, FL).
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Concurrently, A.M. Best has upgraded the ICRs to “a ” from “a” and affirmed the FSRs of A (Excellent) of QBE Bounded Allowance Group (Wilmington, DE) and its members. The angle for all ratings is stable, except for the ratings of NAU, which accept been removed from beneath analysis with absolute implications and assigned a abiding outlook. (See articulation beneath for a abundant advertisement of the companies and ratings.)
All of the above companies are associates of QBE Americas and are a key allotment of the ultimate parent, QBE Allowance Group Limited’s (QBE) (Australia) amplification affairs in the United States. QBE Americas additionally is a above contributor to the common operations of QBE, one of the better all-around allowance organizations.
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Each appraisement action considers the company’s cardinal role and accent to the all-embracing specialty operations of QBE Americas, the absolute and absolute abutment provided by QBE and its affiliates, as able-bodied as the absolute attributes of anniversary aggregation including risk-adjusted capitalization, operating achievement and business profile.
The advance of the ICR for QBE Bounded recognizes its able actual operating advantage and its accent to QBE Americas, as QBE Bounded is QBE’s better exceptional and balance producer. The advance of the ratings of Praetorian and NAU additionally reflect the absolute allocation allotment reinsurance abutment accustomed from their reinsurance affiliate, Equator Reinsurances Limited, as able-bodied as advancing business and advantage affairs from actuality allotment of QBE. This is decidedly accurate of Praetorian, which according to management, has taken strides in re-underwriting its portfolio of affairs business, eliminating ones that did not accommodated the advantage and acknowledgment standards of QBE.
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The ratings additionally contemplate the alcove and/or bounded focus and the adapted book of business of QBE Americas amid its corresponding operating groups. Furthermore, the cardinal accent of QBE Americas continues to aggrandize as the operating groups, decidedly those added contempo acquisitions, become added chip aural the all-embracing alignment of QBE. QBE has approved an actual clue almanac of acknowledging its operations throughout the world, which is a absolute appraisement attribute.
Partially offsetting these absolute appearance is the cogent accretion action that is axial to the QBE Americas strategy. The QBE Americas articulation has added than angled its admeasurement aural the United States back 2007. There are assorted inherent risks associated with a advance by accretion strategy, which accommodate but are not bound to, affiliation and cultural issues, bureau accepting and the abeyant for abortive bequest issues to emerge. These apropos notwithstanding, QBE Americas does accept a acknowledged clue almanac amalgam acquisitions profitably appropriately far.
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For a complete account of QBE Allowance Group Bound and its subsidiaries’ FSRs and ICRs, amuse see www.ambest.com/press/100104qbeus.pdf.
The arch alignment acclimated in free these ratings is Best’s Acclaim Appraisement Alignment -- All-around Life and Non-Life Allowance Edition, which provides a absolute account of A.M. Best’s appraisement action and highlights the altered appraisement belief employed. Additional key belief activated include: “Risk Administration and the Appraisement Action for Allowance Companies”; “Understanding BCAR for Property/Casualty Insurers”; and “Rating Associates of Allowance Groups.” Methodologies can be begin at www.ambest.com/ratings/methodology.
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Founded in 1899, A.M. Best Aggregation is a all-around full-service acclaim appraisement alignment committed to confined the banking and bloom affliction account industries, including allowance companies, banks, hospitals and bloom affliction arrangement providers. For added information, appointment www.ambest.com.
Praetorian Insurance Company Reviews
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