Summary: American States Insurance Co. Jun 05
Standard & Poors, June 2005
Abstract
The insurer financial strength rating on American States Insurance Co., a member of the Safeco Insurance Co. Intercompany Pool (collectively, Safeco), reflects the group's strong competitive position in the personal lines sector, very strong capitalization, and improved operating results following significant restructuring in its property/casualty (P/C) operations. Partially offsetting these positive factors are the group's gross exposure to catastrophe losses from severe earthquakes in certain regions of the U.S, including California, the Pacific Northwest and New Madrid, relatively high expense ratio and uncertainties associated with group's execution risk to produce sustainable earnings throughout the underwriting cycle, after disposition of its noncore lines of business, such as life and investments. Standard & Poor's Ratings Services believes Safeco's strategic focus on personal...
Companies mentioned in this report are: American States Insurance Co.
Action: Review
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
American States Insurance Co.
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