Standard & Poor’s has lowered its financial strength rating on American Compensation Insurance Co. (ACIC) to single-‘Bpi’ from triple-‘Bpi’ because for year-end 2001 and 2000, ACIC had a total net after-tax loss of nearly $30 million.
This loss weakened the company’s capital position to a level considered very weak by Standard & Poor’s. Surplus at year-end 2001 was $19.5 million, a significant fall from year-end 1999 surplus of $46.0 million.
ACIC is a stock company licensed in 23 states, with 90 percent of total revenue derived from Minnesota, Michigan, Colorado, Massachusetts, and Missouri. The company exclusively underwrites workers’ compensation coverage.
Topics Talent
Was this article valuable?
Here are more articles you may enjoy.
Nine-Month 2025 Results Show P/C Underwriting Gain Skyrocketed 
Insurance Issue Leaves Some Players Off World Baseball Classic Rosters 
A 10-Year Wait for Autonomous Vehicles to Impact Insurers, Says Fitch 
Florida Engineers: Winds Under 110 mph Simply Do Not Damage Concrete Tiles 
