APRIL 22, 2010 01:30 PM (EDT)
A.M. Best Revises Outlook to Positive for Century-National Insurance Company
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FOR IMMEDIATE RELEASE
OLDWICK, N.J. - APRIL 22, 2010 01:30 PM (EDT)
A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating of A- (Excellent) and issuer credit rating of "a-" of Century-National Insurance Company (Century-National) (North Hollywood, CA).
The outlook for Century-National reflects the potential for future favorable rating actions based on sustained levels of capitalization, relative underwriting and operating performance and favorable loss development trends.
Century-National's ratings recognize its strong capitalization, favorable underwriting performance over the last five years and its extensive knowledge of the local marketplace. These positive rating factors are partly offset by the company's moderately elevated investment leverage, above average expense ratio and geographic concentration of risk.
Century-National primarily writes homeowners and commercial automobile liability coverages in California.
For Best's Credit Ratings, an overview of the rating process and rating methodologies, please visit Best's Ratings & Analysis.
The principal methodologies used in determining these ratings, including any additional methodologies and factors that may have been considered, can be found at Best's Credit Rating Methodology.
Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers.