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Research Update: Mutual Service Casualty Insurance Co. Jun 02 Product Image

Research Update: Mutual Service Casualty Insurance Co. Jun 02

  • ID: 2026321
  • June 2002
  • Standard & Poors

FEATURED COMPANIES

  • Ironshore Indemnity Inc.
  • MORE

Abstract
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.
Action: Review

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