Abstract: Doctors Company Insurance Group Ratings have seen an upward revision in the recent past by the leading rating concerns like A.M.Best and Fitch Ratings. Acquisition of OHIC and SCPIE has helped it to achieve this upgraded rating
Doctors Company Insurance Group Ratings
Financial and credit rating companies like A.M.Best Company and Fitch Ratings have given their ratings to Doctors Company Insurance Group. Fitch has rated it with a financial strength of “A”. According to it, the company’s financial position is stable. A.M.Best has also given Doctors Company Insurance Group with an excellent (A-) financial strength rating.
Doctors Company Insurance Group Ratings and its Subsidiaries
Doctors Company Insurance Group is an insurance company, which is fully owned by the physicians. The main insurance product sold by it is insurance against medical malpractices. It is considered to be the leading insurance provider to the physicians in this particular market segment.
Some of its subsidiaries are OHIC Insurance Company, The Doctors Company (an interinsurance Exchange), Northwest Physicians Insurance Company, Professional Underwriters Liability Insurance Company, and Underwriter for the Professions Insurance Company.
A.M.Best and Fitch, both have given A- rating to Doctors Company Insurance Group along with its subsidiaries.
Doctors Company Insurance Group’s Business Deals and its Ratings
During the year 2007, Doctors Company Insurance Group has made two business deals:-
On 10.01.07 it had acquired the Ohio based insurance company called OHIC Insurance Company. The rating companies had seen this acquisition with positive attributes because it expanded the market base of Doctors Company Insurance Group. It has brought 2000 Ohio-based physicians along with community hospitals under the fold of Doctors Insurance.
Doctors Company Insurance Group has announced agreement of a business deal between itself and SCPIE Holdings Inc. According to this the former would acquire the later at a cost of US$281 million. Fitch rating has commented that this deal would not affect the issuer credit rating as well as Financial Strength Rating of Doctors Company.
Conclusion
Ratings of Doctors Company Insurance Group has been upgraded in the recent past along
with its fully owned subsidiaries. Profitable business deals struck by it have helped it to
Improve its rating positions.