Wednesday, January 4, 2012

A.M. Best Withdraws Rating of FPIC Insurance Group, Inc.

A.M. Best Co. has withdrawn the issuer credit rating of bbb-
of FPIC Insurance Group, Inc. (FPIC) (Jacksonville, FL) following
its recent acquisition by The Doctors Company, An Interinsurance
Exchange (TDC). This rating action is being taken as a consequence
of FPICs common stock being deregistered with the Securities and
Exchange Commission and delisted on NASDAQ in conjunction with the
close of the transaction. FPIC remains as an interim holding
company with the TDC organization. The principal methodology used
in determining these ratings is Bests Credit Rating Methodology --
Global Life and Non-Life Insurance Edition, which provides a
comprehensive explanation of A.M. Bests rating process and
highlights the different rating criteria employed. Additional key
criteria utilized include Rating Members of Insurance Groups.
Methodologies can be found at www.ambest.com/ratings/methodology.
Founded in 1899, A.M. Best Company is the world's oldest and most
authoritative insurance rating and information source. For more
information, visit www.ambest.com. Copyright 2012 by A.M. Best
Company, Inc. ALL RIGHTS RESERVED.

No comments:

Post a Comment