Financial Strength Rating definition

Financial Strength Rating means the financial strength rating issued with respect to any Insurance Subsidiary by A.M. Best Company (or its successor).

Financial Strength Rating means, as to any Person, the rating that has been most recently announced by A.M. Best as the “financial strength rating” of such Person.

Financial Strength Rating means (a) the financial strength rating given to Renaissance Re by A.M. Best Company or (b) in the event that A.M. Best Company ceases to exist or to issue financial strength ratings generally, the equivalent financial strength rating given to Renaissance Re by S&P.

Examples of Financial Strength Rating in a sentence

• Insurance carriers providing coverage required herein must be licensed to conduct business in the State of Florida and must possess a current A.M. Best’s Financial Strength Rating of A- Class VIII or better.

• Such company shall be an insurer (or, for qualified self insurers or group self insureds, a specific excess insurer providing statutory limits) with an A.M. Best Financial Strength Rating of "A-" or better and with an A.M. Best Financial Size Category of Class V or larger.

• Insurance carriers providing coverage required herein, must be licensed to conduct business in the State of Florida and must possess a current A.M. Best’s Financial Strength Rating of A- Class VIII or better.

• All insurance coverage shall be written through insurance companies admitted to do business in California and with a Best’s Financial Strength Rating of A- or better, as shown in the on-line version of Best’s Rating & Criteria Center.

• The insurance company or companies to provide the insurance required in the contract documents must have a Financial Strength Rating of not less than “A-” and a Financial Size Category of not less than “Class VII” according to the latest Best Key Rating Guide.

More Definitions of Financial Strength Rating

Financial Strength Rating means (a) the financial strength rating given to Renaissance Reinsurance by A.M. Best Company or (b) in the event that A.M. Best Company ceases to exist or to issue financial strength ratings generally, the equivalent financial strength rating given to Renaissance Reinsurance by S&P.

Financial Strength Rating means with respect to any Regulated Insurance Company, the financial strength rating of such Insurance company as determined by A.M. Best Company, Inc. or S&P.

Financial Strength Rating means, at any time, with respect to any Account Party, the then current financial strength rating of such Account Party issued by Moody's and/or or S&P.

Financial Strength Rating means, as of any date, the rating that has been most recently announced by either S&P or Xxxxx’x, as the case may be, for the financial strength or insurance financial strength, as the case may be, of Ambac Assurance. For purposes of the foregoing, (a) if the ratings established by S&P and Xxxxx’x shall fall within different levels, the Applicable Margin, the Facility Fee Rate and the Utilization Fee Rate shall be based upon the lower rating; (b) if any rating established by S&P or Xxxxx’x shall be changed, such change shall be effective as of the date on which such change is first announced publicly by the rating agency making such change; and (c) if S&P or Xxxxx’x shall change the basis on which ratings are established, each reference to the Financial Strength Rating announced by S&P or Xxxxx’x, as the case may be, shall refer to the then equivalent rating by S&P or Xxxxx’x, as the case may be.

Financial Strength Rating means a long-term issuer strength rating published by Standard & Poor's Financial Services LLC, or the equivalent rating published by Mxxxx’x Investors Services Inc. or Fitch Ratings Limited or A.M Best, or in each case the successor to its business, provided that where more than one long-term issuer strength rating exists at any time, the lowest such rating shall be the Financial Strength Rating for the purposes of this Agreement. FINMA means the Swiss Financial Market Supervisory Authority

Financial Strength Rating means, as of any date, the rating that has been most recently announced by either S&P or Moody’s, as the case may be, for the financial strength of Ambac Assurance. For purposes of the foregoing, (a) if the ratings established by S&P and Moody’s shall fall within different levels, the Applicable Margin and the Facility Fee Rate shall be based upon the lower rating; (b) if any rating established by S&P or Moody’s shall be changed, such change shall be effective as of the date on which such change is first announced publicly by the rating agency making such change; and (c) if S&P or Moody’s shall change the basis on which ratings are established, each reference to the Financial Strength Rating announced by S&P or Moody’s, as the case may be, shall refer to the then equivalent rating by S&P or Moody’s, as the case may be.

Financial Strength Rating means the opinion by A.M. Best of a Person's ability to meet its obligations to its policyholders.