A.M. Best Revises Outlook to Positive for SUA Insurance Company
28 February 2009 - 8:24AM
PR Newswire (US)
CHICAGO, Feb. 27 /PRNewswire-FirstCall/ -- Specialty Underwriters'
Alliance, Inc. (NASDAQ:SUAI) today reported that A.M. Best has
revised the outlook to positive and reaffirmed the financial
strength rating of B+ (Good) of SUA Insurance Company ("SUA"). "The
ratings and outlook reflect SUA's solid capitalization, improved
underwriting and operating performance and the financial
flexibility afforded to SUA through its publicly traded parent. The
ratings also recognize SUA's experienced management team and its
prudent business plan," A.M. Best stated. "We are pleased A.M. Best
has recognized our efforts and revised the outlook to positive,
particularly in this challenging insurance and economic
environment," said Courtney Smith, president and chief executive
officer. About Specialty Underwriters' Alliance, Inc. (SUAI)
Specialty Underwriters' Alliance, Inc., through its subsidiary SUA
Insurance Company, is a specialty property and casualty insurance
company providing commercial insurance products through exclusive
wholesale Partner Agents that serve niche groups of insureds. These
targeted customers require highly specialized knowledge due to
their unique risk characteristics. Examples include construction,
professional employee organizations, public entities, small
business and transportation. SUA's innovative approach provides
products and claims handling, allowing the Partner Agent to focus
on distribution and customer relationships. Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a
"safe harbor" for forward-looking statements. This release or any
other written or oral statements made by or on behalf of the
company may include forward-looking statements that reflect the
company's current views with respect to future events and financial
performance. All statements other than statements of historical
fact included in this release are forward-looking statements.
Forward-looking statements can generally be identified by the use
of forward-looking terminology such as "may," "will," "plan,"
"expect," "intend," "estimate," "anticipate," "believe" or
"continue" or their negative or variations or similar terminology.
All forward-looking statements address matters that involve risks
and uncertainties. Accordingly, there are or will be important
factors that could cause our actual results to differ materially
from those indicated in these statements. We believe that these
factors include but are not limited to ineffectiveness or
obsolescence of our business strategy due to changes in current or
future market conditions; increased competition on the basis of
pricing, capacity, coverage terms or other factors; greater
frequency or severity of claims and loss activity, including as a
result of natural or man-made catastrophic events, than our
underwriting, reserving or investment practices anticipate based on
historical experience or industry data; the effects of acts of
terrorism or war; developments in the world's financial and capital
markets that adversely affect the performance of our investments;
changes in regulations or laws applicable to us, our subsidiaries,
brokers or customers; acceptance of our products and services,
including new products and services; changes in the availability,
cost or quality of reinsurance and failure of our reinsurers to pay
claims timely or at all; decreased demand for our insurance or
reinsurance products; loss of the services of any of our executive
officers or other key personnel; the effects of mergers,
acquisitions and divestitures; changes in rating agency policies or
practices; changes in legal theories of liability under our
insurance policies; changes in accounting policies or practices;
and changes in general economic conditions, including inflation and
other factors. Forward-looking statements speak only as of the date
on which they are made, and the company undertakes no obligation to
update publicly or revise any forward-looking statement, whether as
a result of new information, future developments or otherwise. To
learn more about Specialty Underwriters' Alliance, please visit
http://www.suainsurance.com/. DATASOURCE: Specialty Underwriters'
Alliance, Inc. CONTACT: Leslie Loyet of Financial Relations Board,
+1-312-640-6672, , for Specialty Underwriters' Alliance, Inc.; or
Scott Goodreau of Specialty Underwriters' Alliance, Inc.,
1-888-782-4672, Web Site: http://www.suainsurance.com/
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