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COPYRIGHT 2001 Business Wire
Business Editors
NEW YORK--(BUSINESS WIRE)--Standard & Poor's
Sept. 4, 2001--Standard & Poor's today affirmed its single-'A' counterparty credit and financial strength ratings on American Physicians Assurance Corp. (APA; formerly Mutual Insurance Corp. of America).
The outlook has been revised to negative from stable.
APA is a subsidiary of American Physicians Capital Inc. (APCapital) and underwrites professional liability and workers' compensation insurance.
Major Rating Factors:
-- Extremely strong capitalization. Capitalization is extremely strong and is a significant strength for the rating. APA's capital adequacy ratio, based on Standard & Poor's capital adequacy model, was 376%...
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