S&P’s removed from CreditWatch and affirmed its “A+” counterparty and financial strength ratings on Fireman’s Fund Insurance Co. and related entities (FFIC) because of support from the companies’ parent, Allianz AG. The outlook on these companies is stable.
An S&P’s analyst said FFIC’s capital adequacy ratio should come in at around 135 percent for calendar-year 2002. The company is expected to maintain prospective capitalization and marketable financial strength at competitive levels on its own. If additional explicit support from its parent is needed, the amount is expected to be limited.
Was this article valuable?
Here are more articles you may enjoy.
CEO Sentenced in Miami to 15 Years in One of the Largest Health Care Fraud Cases 
2 New Jersey Pilots Killed in Helicopter Collision Frequented Nearby Cafe Together 
Judge Green Lights New York’s Driver’s License Law, Rejecting Trump Challenge 
Howden US Tells Judge Brown & Brown Employees Fled Due to ‘Mistreatment’ From This Issue
