The Doctors Company’s Financial Strength Rating Upgraded to “A” by Fitch Ratings
Napa, California—January 25, 2008—The Doctors Company, the nation’s leading physician-owned medical malpractice insurer, is pleased to announce that Fitch Ratings has upgraded its Insurer Financial Strength (IFS) rating to “A” with a “Stable Outlook.”
Fitch’s rating upgrade is predicated on its belief that The Doctors Company’s acquisition of SCPIE Holdings Inc. will enhance its operating profile and not materially alter its above average capital position. Fitch also believes that The Doctors Company is in a good position to leverage potential synergies with SCPIE.
“We are pleased that Fitch Ratings upgraded The Doctors Company’s financial strength rating in the context of the pending SCPIE merger. The acquisition will significantly advance our leadership in California as well as nationally, and further enhance our ability to relentlessly protect, defend, and reward our physician members,” said Richard E. Anderson, MD, FACP, chairman and CEO of The Doctors Company.
The “A” with “Stable Outlook” IFS rating includes The Doctors Company’s wholly owned subsidiaries:
- The Doctors Company, an Interinsurance Exchange
- Professional Underwriters Liability Insurance Company (PULIC)
- Underwriter for the Professions Insurance Company (UFTP)
- Northwest Physicians Insurance Company (NPIC)
- OHIC Insurance Company (OHIC)
Fitch Ratings is a leading global rating agency committed to providing the world’s credit markets with independent, timely and prospective credit opinions. It is recognized as the industry standard for credit benchmarking, rating more than 2,000 insurance companies worldwide.
About The Doctors Company
Founded by doctors for doctors in 1976 to advance, protect, and reward the practice of good medicine, The Doctors Company (www.thedoctors.com) is the nation’s leading physician-owned medical malpractice insurer. With $2.2 billion in assets, 34,000 physician members, an A- rating by A.M. Best Company, and an A rating by Fitch Ratings, The Doctors Company enjoys a reputation as the industry vanguard.
