General Agents Downgraded

Following the release of third-quarter 2000 earnings by the General Agents Group, the company’s FSR was lowered from ‘A’ to ‘A-‘ by A.M. Best, which noted that the downgrade reflected a decrease in the company’s capitalization into the lower range and an erosion of historical earnings. Although a restoration of earnings and capital to the ‘A’ range would seem, in Best’s opinion, difficult in the near-term, it was noted that General Agents Group’s capitalization remains excellent.