Research Update: Ironshore Inc. And Ironshore Holdings (U.S.) Inc. Upgraded To 'BBB' From 'BBB-'; Outlook Stable Jun 14
- Language: English
- Published: June 2014
- 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.
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Product Type: Research Update
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Ironshore Indemnity Inc.