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property for sale in turks and caicos islands
News and Information Article
SOUTHFIELD, Mich., Dec. 13 /-FirstCall/ -- North Pointe
Holdings Corporation (Nasdaq: NPTE), a property and casualty insurer that
markets both specialty commercial and personal insurance products, reported
that A.M. Best Co. (Best) has increased the financial strength rating of
its principle subsidiary, North Pointe Insurance Company (NPIC), to A-
(Excellent) from B++ (Very Good). Simultaneously, Best has affirmed the
financial strength rating of B+ (Very Good) for North Pointe Casualty
Insurance Company; and has initiated a financial strength rating of B+
(Very Good) for Home Pointe Insurance Company, and upgraded the issuer
credit rating of North Pointe Holdings Corp (NPHC) to bb+ from bb.
According to Best, "The upgrade of NPIC reflects its solid
capitalization and operating performance, the balance sheet strength and
financial flexibility of its parent holding company, as well as its
consistently favorable loss reserve development." Best also acknowledged
the efforts of NPHC to decrease its property-catastrophe exposure in
Florida in upgrading NPHC.
James Petcoff, chairman and chief executive officer commented, "We
believe that Bests actions reflect the culmination of our successful
strategies. We are pleased to receive this recognition and feel that
stronger ratings enhance our growth opportunities, and raise our profile
within the industry. This is a direct tribute to the efforts of our many
talented and devoted employees who have worked so diligently to execute
North Pointes business plan."
About the Company
North Pointe is a property and casualty insurance holding company whose
subsidiaries market both specialty commercial and personal insurance
products. With a focus on owner-operated businesses, the company is the
nations largest insurer of independent bowling centers and the largest
insurer of liquor liability insurance in Michigan.
For more information about North Pointe Holdings Corporation, please
visit http://www.npte.com .
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