A “B++” FSR was assigned to First Beacon Insurance Company, Burlington, Vt., by A.M. Best. Cited as major rating factors were the company’s favorable operating results, secure capitalization, sound liquidity and strategic role as a captive subsidiary of Lucent Technologies. First Beacon insures various global property/casualty risks of Lucent and its subsidiaries, and has also generated significant new business for the parent as a provider of creditor-placed insurance programs to financial institutions.
Was this article valuable?
Here are more articles you may enjoy.
Reinsurance Rates Continued Softening During April Renewals, Despite Iran War 
Agency Customer Rep and Miami Businessman Killed in Separate Boat Accidents 
Viewpoint: How Will the Middle East War Affect the Insurance Sector? 
FBI Calls Breach of Sensitive Agency Networks a ‘Major Incident’ From This Issue
