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Summary: Mutual Service Casualty Insurance Co. Jan 05 Product Image

Summary: Mutual Service Casualty Insurance Co. Jan 05

  • Published: January 2005
  • Standard & Poors

FEATURED COMPANIES

  • Ironshore Indemnity Inc.
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Abstract
The ratings on Mutual Service Casualty Insurance Co., which is a member of Country Mutual Group, reflect the group's extremely strong capitalization, large surplus base, significant geographical presence in Illinois, and marginal earnings. At year-end 2003, Country Mutual Group's consolidated capital was extremely strong, as demonstrated by a Standard & Poor's Ratings Services capital adequacy ratio of 280%. In addition, the group had a large surplus of about $1.2 billion at year-end 2003. The group's operating performance is marginal, as measured by an earnings adequacy ratio of 46% at year-end 2003. However, net income improved to $42 million in 2003 compared with $11.8 million in 2002. This was primarily because of an improvement in underwriting gains, which stemmed from an...

Companies mentioned in this report are: Ironshore Indemnity Inc.
Action: Review

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Ironshore Indemnity Inc.

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