Tester 'll Never " Satisfied "

The affirmation of the ratings on White Mountains and its subsidiaries follows today's announcement of the company's planned reorganization, whereby White Mountains Re Bermuda Ltd. (WMRe Bermuda) (Hamilton, Bermuda) will be contributed to Sirius, with its business and infrastructure transferred to Sirius' newly established Bermuda branch, and White MountainsReinsurance Company of America's (WMRe America) (New York, NY) property quota share to WMRe Bermuda will be novated to Sirius. This planned reorganization and ongoing efforts by management to modify the capital structure throughout the organization are expected to enhance financial flexibility, improve near-term liquidity at the parent level and reduce financial leverage on a consolidated basis.

Offsetting these positive factors is the longer-term potential of a reduced capacity for distributions from Sirius to support parental and affiliate needs, given the expected reduction in Sirius' risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), and Sirius' assumption and guaranty of select higher risk and higher volatility businesses of WMRe Bermuda, WMRe America and other entities. As such, A.M. Best will be monitoring medium-term and longer-term parent level liquidity. An additional offset includes management's appetite for seeking higher returns by entering higher risk and higher volatility businesses that have required support and are expected to require future support.


The stable outlook for White Mountains and its subsidiaries (excluding Sirius) takes into account A.M. Best's expectation that management will maintain sufficient liquidity at the parent level and maintain adequate capital on a consolidated basis. In addition, A.M. Best expects management to continue its efforts to reduce financial leverage both on a consolidated basis and at intermediate holding company, OneBeacon Insurance Group, Ltd. (OneBeacon, Ltd.) (Hamilton, Bermuda) [NYSE: OB]. Also, White Mountains' regulated subsidiaries are expected to maintain sufficient risk-adjusted capital levels.

White Mountains is globally engaged, through its subsidiaries and affiliates, in property/casualty insurance and reinsurance activities. White Mountains' primary business segments include OneBeacon, White Mountains Re and Esurance. White Mountains also has an investment advisory business, as well as variable annuity guaranty reinsurance and weather derivatives businesses, both of which are in run-off

A.M. Best Co. released ratings updates. The following are some of the most recent:

Allianz Insurance plc
A.M. Best Co. affirmed the financial strength rating (FSR) of A+ (Superior) and the issuer credit rating (ICR) of “aa” of Allianz Insurance plc (AZI). The outlook on both ratings remains stable.

Allianz Holdings plc, AZI’s immediate holding company in the UK, is expected to maintain excellent consolidated risk-adjusted capitalization during 2009 and 2010, despite likely dividend payments to its parent company, Allianz Societas Europaea (Allianz SE). AZI’s ratings continue to reflect reinsurance support provided by Allianz group subsidiaries and financial flexibility provided by Allianz SE, which maintains superior risk-adjustedcapitalization.

A.M. Best anticipates a solid combined ratio in 2009 toward the upper end of the 95% to 100% range (2008: 99.7%), taking into account weak rating conditions for AZI’s core commercial lines of business. The company’s underwriting profit at year-end 2009 is likely to be supported by prior year reserve releases, albeit at a lower level than in 2008 (GBP 201 million). A solid net investment yield is anticipated at a comparable level to the 5% achieved in 2008 (including realized and unrealized gains).


Hannover Re
The rating agency revised the outlook to stable from positive for the ratings of Hannover Rueckversicherung AG (Hannover Re) and its rated subsidiaries. At the same time, A.M. Best has affirmed Hannover Re’s FSR of A (Excellent) and ICR of “a+” and the debt ratings either issued or guaranteed by Hannover Re.

A.M. Best expects Hannover Re’s consolidated risk-adjusted capitalization to remain excellent, underpinned by the company’s decision not to pay a dividend during 2009. The change in the rating outlook reflects A.M. Best’s view that the improvement in risk-adjusted capitalization that supported the positive outlook is unlikely to materialize in the current trading environment.


Manulife Financial Corp. and Its Subsidiaries
A.M. Best Co. downgraded the FSR to A+ (Superior) from A++ (Superior) and ICR to “aa” from “aa+” for The Manufacturers Life Insurance Co. (MLI), John Hancock Life Insurance Co. (JHLIC) and their affiliates. Additionally, A.M. Best has downgraded the ICR to “a” from “aa-” and all debt ratings ofManulife Financial Corp. as well as the enterprise. The outlook for all ratings has been revised to stable from negative.

The downgrading of the debt ratings reflects a revision to standard notching for the group in accordance with A.M. Best’s published debt rating methodology.


Munich Re and Its Subsidiaries
A.M. Best Co. affirmed the FSR of A+ (Superior) and ICR of “aa-” of Munich Reinsurance Co. (Munich Re) and its subsidiaries. Concurrently, the rating agency affirmed the debt ratings of “a+” on GBP 300 million 7.625% subordinated bonds, EUR 1.5 billion fixed/floating rate undated subordinated bonds and EUR 3 billion 6.75% subordinated eurobonds issued by Munich Re. The outlook for these ratings remains stable.

In addition, A.M. Best has affirmed the ICR and senior debt ratings of “bbb+” of Munich Re America Corp. The outlook for these ratings remains positive.

Munich Re’s risk-adjusted capitalization is likely to remain strong, despite a significant reduction in equity reserves in 2008. A.M. Best expects Munich Re to effectively manage the impact of the continuing uncertaint in the financial markets for the rest of 2009 as it shifts its investment portfolio towards lower risk fixed interest securities and loans. By year-end 2008, Munich Re had significantly reduced its dependency on the stock market through disposals or by means of suitable hedging instruments. In first quarter 2009, the company incurred additional reductions in equity reserves, but these were more than offset by an increase in foreign currency translation reserves.

Introduction to auto insurance quotes in Canada

COMMON AUTO INSURANCE TERMS

Auto Insurance Coverages

Proof of Financial Responsibility    

US Insurance

Health Insurance

Life Insurance

Pet Insurance

Property and Casulty Insurance

Worker’s Compensation