S&P Affirms ULLICO Ratings

May 15, 2000

S&P affirmed the “BBpi” financial strength ratings on several stock companies, all members of the ULLICO Group (a mid-sized insurance group, ultimately owned by the privately held stock company, ULLICO Inc.).

Ulico Casualty Co., domiciled in Delaware, is licensed in 48 states and the District of Columbia. Approximately 70 percent of the company’s business is in Florida, California, New York, Michigan and Illinois, and it is an authorized surplus lines writer in Puerto Rico and Rhode Island.

Ulico Standard of America Casualty Co., domiciled and licensed only in California, counts workers’ comp, other liability (claims-made) insurance and other multi-peril as its major lines of business.

Ulico Indemnity Co., domiciled and licensed only in Arkansas, has about 78 percent of its business in its major states of operation, Michigan, New York and Rhode Island. Its major line of business is workers’ comp with additional specialization in excess and surplus, other liability (claims-made) and commercial multi-peril. It markets primarily through brokers.

The ratings are based on the interaffiliate pool, consisting of Ulico Casualty Co. (75 percent) and its directly owned companies, Ulico Indemnity Co (20 percent) and Ulico Standard of America Casualty Co. (5 percent).

The companies are all based in Washington, D.C.

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