U.S. Property/Casualty Insurance 2012 Outlook: Still Stable For Personal Lines And Negative For Commercial Lines Dec 11
- Language: English
- Published: December 2011
- Region: United States
Standard & Poor's lowered its counterparty credit and financial strength ratings on Mutual Service Casualty Insurance Co. (MSC)to single-'Bpi' from triple-'Bpi' on June 18, 2002. Key rating factors include rise in net leverage, decline in surplus, and weak profitability and liquidity. Based in St Paul, Minn., MSC (NAIC: 23647) writes personal and commercial automobile, homeowners, inland marine, fire and allied lines, and commercial general liability insurance. Business in the company's major states of operations--Minnesota, New York, North Carolina and California--constitutes about 60% of its total revenues. Its products are distributed primarily through direct marketing and brokers. MSC, which began business in 1919, is licensed in 48 states, the District of Columbia, and Puerto Rico. The company is a member of...
Companies mentioned in this report are: Ironshore Indemnity Inc.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
SHOW LESS READ MORE >