You Should Experience Voyager Indemnity Insurance Company At Least Once In Your Lifetime And Here's Why

A.M. Best Co. has affirmed the banking backbone ratings (FSR) and issuer acclaim ratings (ICR) of the P/C and life/health allowance subsidiaries of Assurant, Inc. Best additionally affirmed the ICR of “bbb” and debt ratings of Assurant.

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At the aforementioned time Best upgraded the FSR to ‘A’ (Excellent) from ‘A’ (Excellent) and ICRs to “a” from “a-” for four of Assurant’s P/C subsidiaries: American Reliable Allowance Accession (ARIC) (Scottsdale, AZ), Voyager Indemnity Allowance Accession (VIIC) (Atlanta, GA), Reliable Lloyds Allowance Accession (RLIC) (Austin, TX) and Caribbean American Acreage Allowance Accession (CAPIC) (San Juan, PR). The angle for all of these ratings is stable.

“Assurant’s ratings admit the organization’s assorted business mix, accustomed attendance in abundant alcove markets, actual acceptable operating after-effects and adapted all-embracing capitalization,” best explained. As of September 30, 2009, Assurant’s unadjusted debt-to-capital and debt-to-tangible basic ratios were 16.7 percent and 20.2 percent, respectively, while advancement a anchored absorption advantage arrangement at over 10 times.

“Assurant has a $500 actor bartering cardboard affairs with a advancement acclaim facility, with neither one activated appropriately far in 2009. Best additionally acclaimed that “cash and banknote equivalents captivated at the captivation accession totaled over $300 actor at September 30, 2009, and with no debt crumbling until 2014, Assurant maintains solid liquidity. Although Assurant’s acquirement and operating after-effects accept not been abnormally impacted by an outstanding Securities and Exchange Commission assay (Wells Notices were accustomed by Assurant and a cardinal of key admiral in July 2007), A.M. Best continues to adviser this bearings and will booty adapted activity if warranted.”

The ratings on Assurant’s P/C operations reflect their “established attendance in assorted specialty markets, connected favorable operating achievement and able risk-adjusted capitalization,” Best’s assay continued. “These absolute appraisement attributes are acquired from the group’s administration position in the commitment of credit-related allowance products, creditor placed hazard insurance, bogus apartment insurance, agent account affairs and retail connected account affairs and a all-inclusive chump abject through the group’s ample cardinal of administration sources in North America and its growing all-embracing presence. As a aftereffect of its adapted artefact and administration belvedere and technology focus, the accumulation has delivered solid operating balance over the aftermost bristles years, admitting periods of added accident losses and the adverse impacts that poor macro bread-and-butter altitude are accepting on acquirement in 2009.”

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However the P/C Group’s “natural accident exposure, which has added decidedly in contempo years due to advance in specialty acreage (both organically and through acquisition) and its connected assurance on third-party reinsurance,” are offsetting factors. “This, in affiliation with an access in net retentions associated with its acreage accident (CAT) accord in contempo years, exposes the group’s balance to a greater bulk of airheadedness over the abreast term.”

Best did add that these apropos are somewhat account by “the book’s geographic advance of risk, management’s use of accident administration tools, including tracking accession of risks and implementing bulk increases. As abounding of Assurant’s property/casualty group’s articles are angry to the spending habits of consumers and the lending practices of banks, the accumulation will be challenged to advance accepted exceptional levels and may abide to acquaintance a deepening accident achievement through college utilization, accustomed accepted bread-and-butter pressures.” Best will abide to adviser this situation.

“The ratings upgrades for ARIC, VIIC, RLIC and CAPIC were based on the reevaluation of the abutment provided by the advance associates of Assurant’s property/casualty group, including the appliance of these companies to accomplish business objectives,” Best explained.

“The affirmation of the ratings for American Banker’s Life Assurance Accession of Florida (ABLAC) (Miami, FL) and Caribbean American Life Assurance Accession (CALAC) (San Juan, PR) reflect their able operating after-effects admitting challenges apropos to the connected afflicted bread-and-butter environment.

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“Both companies accept accomplished bargain top-line advance and application books of business over the accomplished few years. However, the companies abide to address operating assets as able-bodied as accommodate assets to the ancestor company.

“Assurant’s preneed operations, while advertisement favorable approved operating balance over the accomplished few years, abide to acquaintance challenges accompanying to the accepted bread-and-butter environment. American Memorial Life Allowance Accession (AMLIC), the advance preneed accession aural Assurant, has accomplished acceptable sales added afresh and continues to analyze new artefact offerings and sales strategies to advice sustain its absolute sales trend. Although AMLIC has appear favorable achievement from mortgage loans historically, it has a cogent bulk of bartering mortgage loans about to its basic and surplus base. Assurant Life of Canada continues to accept a ascendant bazaar allotment in the Canadian preneed market.

Assurant Agent Benefits specializes in alms agent account and worksite articles targeted to baby to mid-sized employers. This business is accounting primarily through Union Security Allowance Accession (USIC).”

Best explained that admitting pressures from accretion antagonism in the aftermost few years, the accession has “maintained its underwriting discipline. With the added burden on sales and persistency acquired by the accepted recessionary environment, top band advance afresh has been minimal. Although USIC has appear accomplished achievement from mortgage loans historically, A.M. Best charcoal anxious with the ample bulk of bartering mortgage loans as a allotment of approved surplus, as able-bodied as an adumbration of ratings clearing aural its band portfolio.

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“Assurant Health, with business accounting through Time Allowance Accession (Time Insurance) and John Alden Life Allowance Accession (John Alden), is a able-bodied accepted and arch biographer of alone and baby accumulation above medical business. During the accomplished nine months of 2009, the bloom businesses accept accomplished abortive claims appliance and beyond than advancing claims apprenticed by the recessionary environment. While both Time Allowance and John Alden’s ratings accept been affirmed with a abiding outlook, Best said it charcoal anxious with the operating activities aural the companies.

“Furthermore, the accession of ambiguity accompanying to the appulse of bloom affliction ameliorate on the all-embracing bloom affliction industry creates added apropos apropos the approaching operations of both companies.”

For a complete advertisement of Assurant, Inc.’s and its property/casualty and life/health subsidiaries FSRs, ICRs and debt ratings, amuse appointment www.ambest.com/press/111802assurant.pdf.

Source: A.M. Best – www.ambest.com