Terry Frakes, TMIC senior vice president of public affairs, said TMIC has approximately 34 percent of the Texas workers'-comp market.
In 2001, the state began loosening its ties with TMIC.
Through various legislative actions, the only control the state now exercises is through appointment of five of the nine TMIC board members, Frakes said.
Frakes explained that TMIC needs 18 months to make the change to privatization and does not want to lose tax exemptions on state funds that become reserves.
Best believes TMIC
s ratings/outlook are well positioned at their current levels, they could come under pressure should continued soft market conditions and a lack of underwriting discipline result in the company s underwriting and overall profitability underperforming its peers; local legislative, regulatory or economic changes adversely affect the company s operating fundamentals; or should the company lose its federal tax-exempt status.
, wholly owned by Mubadala Healthcare, is the UAE's first diagnostic centre with an on-site cyclotron which produces the necessary tracers, essential for accurate PET.
Spain's most internationally ambitious project in the past few decades, could be just the most glamorous tip of a potentially huge iceberg of asset acquisitions by TMIC.
TMIC has a $650 million budget for initial investment, Rios says.
Under the new game plan, TMIC will assume management of its media interests in Latin America from Telefonica.
TMIC will absorb production operations at Spanish broadcaster Antena 3 (in which Telefonica has a 40% stake) and the satellite-fed Antena 3 Intl.