AM Best Affirms Credit Ratings of Investors Title Company and Its Subsidiaries
2019年8月17日 - 1:15AM
ビジネスワイヤ(英語)
AM Best has affirmed the Financial Strength Rating of A
(Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR)
of “a” of the two subsidiaries of Investors Title Company (ITIC)
[NASDAQ: ITIC]: Investors Title
Insurance Company and National Investors Title Insurance
Company (Austin, TX). These subsidiaries collectively are
referred to as Investors Title
Company Group (ITC Group). Concurrently, AM Best has
affirmed the Long-Term ICR of “bbb” of ITIC. The outlook of the
Credit Ratings (ratings) is stable. All companies are domiciled in
Chapel Hill, NC, unless otherwise specified.
The ratings reflect ITC Group’s balance sheet strength, which AM
Best categorizes as very strong, as well as its strong operating
performance, limited business profile and appropriate enterprise
risk management (ERM).
ITC Group’s balance sheet strength reflects its strong
risk-adjusted capitalization and robust surplus growth that is
reflective of strong operating earnings and its conservative
underwriting position. ITC Group’s operating performance
consistently outperforms the industry, driven by its
lower-than-average loss and loss adjustment expense ratios. This
level of performance allows it to significantly outperform its
peers in terms of return on equity and return on revenue. ITC
Group’s limited business profile is driven largely by the group’s
heavy product orientation and its significant geographic
concentration in North Carolina and Texas. ERM is considered
appropriate as ITC Group assesses and critically reviews its risks
on an annual basis, developing a comprehensive listing where each
risk is assigned to the appropriate staff and managers who are
responsible for monitoring, managing and mitigating its respective
risks.
Positive rating action may result from continued maintenance of
ITC Group’s positive operating performance trend, along with growth
in risk-adjusted capitalization. Significant deterioration in
operating performance, resulting in erosion of risk-adjusted
capitalization, may result in negative rating action.
This press release relates to Credit Ratings that have been
published on AM Best’s website. For all rating information relating
to the release and pertinent disclosures, including details of the
office responsible for issuing each of the individual ratings
referenced in this release, please see AM Best’s Recent Rating
Activity web page. For additional information regarding the use and
limitations of Credit Rating opinions, please view Understanding
Best’s Credit Ratings. For information on the proper media use of
Best’s Credit Ratings and AM Best press releases, please view Guide
for Media - Proper Use of Best’s Credit Ratings and AM Best Rating
Action Press Releases.
AM Best is a global rating agency and information provider
with a unique focus on the insurance industry. Visit www.ambest.com
for more information.
Copyright © 2019 by A.M. Best Rating
Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190816005369/en/
Kourtnie Beckwith Financial Analyst +1 908 439
2200, ext. 5124 kourtnie.beckwith@ambest.com
Fred Eslami Associate Director +1 908 439 2200,
ext. 5406 fred.eslami@ambest.com
Christopher Sharkey Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com
Jim Peavy Director, Public Relations +1 908 439
2200, ext. 5644 james.peavy@ambest.com
Investors Title (NASDAQ:ITIC)
過去 株価チャート
から 6 2024 まで 7 2024
Investors Title (NASDAQ:ITIC)
過去 株価チャート
から 7 2023 まで 7 2024