Meadowbrook Insurance Group, Inc. Announces Affirmation of A- (Excellent) A.M. Best Rating
25 6월 2009 - 5:47AM
PR Newswire (US)
SOUTHFIELD, Mich., June 24 /PRNewswire-FirstCall/ -- Meadowbrook
Insurance Group, Inc. (NYSE:MIG) announced today the affirmation of
A.M. Best Company's financial strength rating of A- (Excellent) for
its subsidiary insurance carriers. A.M. Best also affirmed the
issuer credit rating for Meadowbrook of "bbb-" and its subsidiary
insurance carriers of "a-." The outlook for all ratings is stable.
Meadowbrook's financial size category is IX. In its news release,
A.M. Best stated: "These ratings reflect Meadowbrook's sustained
operating profitability, despite investment and catastrophe losses
in 2008 and continued soft market conditions, its supportive
capitalization and management's expertise in both the specialty
program business and alternative risk market." Meadowbrook's
President and Chief Executive Officer, Robert S. Cubbin, stated:
"We are pleased that A.M. Best has affirmed our rating and has
recognized our work to sustain profitability and overall
capitalization." About Meadowbrook Insurance Group Meadowbrook
Insurance Group, Inc., based in Southfield, Michigan, is a leader
in the specialty program management market. Meadowbrook includes
several agencies, claims and loss prevention facilities,
self-insured management organizations and seven property and
casualty insurance underwriting companies, including one in
Bermuda. Meadowbrook has twenty-six locations in the United States.
Meadowbrook is a risk management organization, specializing in
specialty risk management solutions for agents, professional and
trade associations, and small to medium-sized insureds. Meadowbrook
Insurance Group, Inc. common shares are listed on the New York
Stock Exchange under the symbol "MIG". For further information,
please visit Meadowbrook's corporate web site at
http://www.meadowbrook.com/. Certain statements made by Meadowbrook
Insurance Group, Inc. in this release may constitute
forward-looking statements including, but not limited to, those
statements that include the words "believes," "expects,"
"anticipates," "estimates," or similar expressions. Please refer to
the Company's most recent 10-K, 10-Q, and other Securities and
Exchange Commission filings for more information on risk factors.
Actual results could differ materially. These forward-looking
statements involve risks and uncertainties including, but not
limited to the following: the frequency and severity of claims;
uncertainties inherent in reserve estimates; catastrophic events; a
change in the demand for, pricing of, availability or
collectability of reinsurance; increased rate pressure on premiums;
obtainment of certain rate increases in current market conditions;
investment rate of return; changes in and adherence to insurance
regulation; actions taken by regulators, rating agencies or
lenders; obtainment of certain processing efficiencies; changing
rates of inflation; and general economic conditions. Meadowbrook is
not under any obligation to (and expressly disclaims any such
obligation to) update or alter its forward-looking statements
whether as a result of new information, future events or otherwise.
DATASOURCE: Meadowbrook Insurance Group, Inc. CONTACT: Karen M.
Spaun, SVP & Chief Financial Officer, +1-248-204-8178, or Holly
Moltane, Controller - GAAP Financial Reporting, +1-248-204-8590,
both of Meadowbrook Insurance Group, Inc. Web Site:
http://www.meadowbrook.com/
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