Best's view of the level of support provided by
ACGL to Gulf Re changes or if Gulf Re is unable to demonstrate reduced earnings volatility within the technical account.
In addition to providing Internet service in the East, ACGL, which just set up its U.
You charge people a dollar an hour (for listening to Internet radio) and have 20,000 doing it every night - it's not a small business,'' said Philip Wong, ACGL chief executive and president.
Best s viewpoint is Gulf Re benefits from a capable and experienced management team that has implemented best practices throughout the company with the support and expertise of
ACGL.
Constantine (Dinos) Iordanou, Chairman and CEO of
ACGL, commented, "We are extremely pleased to be able to provide a strong source of private capital to a U.
Tickers featured: AAI,
ACGL, AMGN, AVP, BA, BAC, BHP, CFC, CMCSK, COL, COP, COX, CSCO, CVH, DELL, EMC, ESRX, ETHSX, FDC, FNM, GLW, HAINX, HD, HNP, IBB, IDXX, INTC, IRM, JBLU, JNJ, KROL, LIFE, LOW, LUV, MDT, MEDI, MKC, MSFT, NOC, NTAP, OCR, PEP, PFE, PG, SAP, SLB, SLM, STR, SU, SYD, SYY, TEVA, TOL, VOIP, WAG, WFMI, WMGI, WMT, XLNX, XOM, XRAY, ZMH.
A full list of Fitch's existing ratings on ACGL and its subsidiaries, which were not affected by today's action, follows at the end of this release.
Fitch currently rates ACGL and its subsidiaries as follows:
Tickers featured:
ACGL, AIG, AMAT, AMGN, BFS, BMY, BRK, C, CBMD, CMCSK, COP, CSCO, CVH, DELL, EGBN, EMC, FDC, FIC, FNM, FRE, GLW, HAL, HCA, IDXX, JEC, JNJ, KROL, LMT, MDT, MEDI, MRK, MSFT, NOC, NOK, ORCL, PFE, PSC, SGP, SLM, STR, T, TEVA, THC, WAG, WFMI, WRE, WRI, XLNX, ZMH.
ACGL) and its subsidiaries, including the Issuer Default Rating (IDR) for
ACGL at 'A' and the Insurer Financial Strength (IFS) ratings of
ACGL's various subsidiaries at 'A+'.
Underwriting results remained favorable with
ACGL reporting a calendar year combined ratio of 92.
ACGL reported strong results in 2009 generating $851 million of net income (available to common shareholders) and a 22% net return on average total shareholders equity (ROAE).
