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FOR IMMEDIATE RELEASE
OLDWICK, N.J. - FEBRUARY 07, 2008 12:00 AM (EST)
A.M. Best Co. has affirmed the financial strength rating of B+ (Good) and the issuer credit rating of "bbb-" of SUA Insurance Company (SUA) (Chicago, IL). The outlook for both ratings is stable.
The ratings reflect SUA's solid capitalization, improved earnings in each of the last two years and the financial flexibility afforded SUA through its publicly traded parent, Specialty Underwriters' Alliance, Inc. [NASDAQ: SUAI].
The ratings also recognize the significant experience of SUA's management team and its planned diversification of specialty product offerings.
Offsetting these positive rating factors are the challenges and uncertainties associated with a company in only its third year of operations, including the successful execution of its business plan.
For Best's Ratings, an overview of the rating process and rating methodologies, please visit Best's Rating Center.
Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers.