A.M. Best Comments On Doctors Company Insurance Group Planned Acquisition Of American Physicians Capital Inc.
A.M. Best Co. has commented that the financial strength rating of A- (Excellent) and issuer credit ratings of “a-” of Doctors Company Insurance Group (TDC) and its members, led by The Doctors Company, an Interinsurance Exchange (Napa, CA), are unchanged. The outlook for the ratings is positive.
This commentary follows the recent announcement that American Physicians Capital Inc. (AP Capital) (East Lansing, MI) [NASDAQ: ACAP] has entered into a definitive agreement to be acquired by TDC. AP Capital’s primary insurance company is American Physicians Assurance Corporation (East Lansing, MI).
When the acquisition is completed, shareholders will be entitled to receive cash totaling $386 million. With the acquisition of AP Capital, TDC is purchasing a regional provider of medical professional liability insurance products, with clients in predominantly in midwestern and western states. The transaction assists TDC in achieving scale through continued geographic diversification and supports the group’s growth philosophy. The transaction is not subject to financing contingencies and is expected to close during the fourth quarter of 2010, subject to regulatory approval and a vote by AP Capital’s shareholders to approve the sale.
On June 7, 2010, A.M. Best affirmed the current ratings of Doctor’s Company Insurance Group.For Best’s Credit Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. The principal methodologies used in determining these ratings, including any additional methodologies and factors that may have been considered, can be found at www.ambest.com/ratings/methodology. 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. For more information, visit www.ambest.com.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV