S&P’s lowered its counterparty credit and financial strength ratings on Harbor Insurance Co. (Harbor) to “Bpi” from “Bbpi.” According to an S&P’s analyst, “Harbor’s decline in capitalization and increasing leverage in 2002, weaker liquidity, and limited operating scope,” influenced the ratings action.
Based in Tulsa, Okla., Harbor writes mainly private passenger auto in Oklahoma. Its products are distributed primarily through independent agents. Harbor, which began business in 1993, is licensed in only Oklahoma.
Was this article valuable?
Here are more articles you may enjoy.
‘Catastrophic’ Hack Underscores Public Defender Security Gaps 
Catastrophe Bond Investors Told to Brace for Jamaica Payout 
Starr Acquiring IQUW; Starr Managing Agency to Be Among 10 Largest at Lloyd’s 
AIG to Acquire Renewal Rights of Everest’s Retail Commercial Business Worth $2B From This Issue
