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FOR IMMEDIATE RELEASE
OLDWICK, N.J. - MAY 23, 2007 12:00 AM (EDT)
A.M. Best Co. has upgraded the financial strength rating (FSR) to A- (Excellent) from B++ (Good) and assigned an issuer credit rating (ICR) of "a-" to American Fuji Fire and Marine Insurance Company (American Fuji) (Long Grove, IL). The FSR outlook has been revised to stable from positive, while the outlook assigned to the ICR is stable.
These rating actions reflect American Fuji's low underwriting leverage, conservative operating strategy and good overall earnings. American Fuji has a demonstrated track record of consistent operating profitability while adhering to a prudent risk management strategy.
Additionally, as a wholly owned subsidiary of The Fuji Fire and Marine Insurance Company, Limited (Japan), American Fuji provides various coverages and services to the U.S. operations of its parent's clients. Going forward, American Fuji is expected to continue its emphasis on profitability and targeted growth opportunities within the Japanese-American market.
For Best's Ratings, an overview of the rating process and rating methodologies, please visit Best's Rating Center.
Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors.