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Communication Services : Entertainment | Large Cap BlendCompany profile

The Walt Disney Company, formerly TWDC Holdco 613 Corp, is a worldwide entertainment company. The Company operates in four business segments: Media Networks, Parks Experiences and Products, Studio Entertainment, and Direct-To-Consumer and International. The media networks segment includes cable and broadcast television networks, television production and distribution operations, domestic television stations, and radio networks and stations. The Company's Walt Disney Imagineering unit designs and develops new theme park concepts and attractions, as well as resort properties. The studio entertainment segment produces and acquires live-action and animated motion pictures, direct-to-video content, musical recordings and live stage plays. The Company also develops and publishes games, primarily for mobile platforms, books, magazines and comic books.

Closing Price
$135.20
Day's Change
1.79 (1.34%)
Bid
--
Ask
--
B/A Size
--
Day's High
135.50
Day's Low
133.83
Volume
(Light)
Volume:
6,353,770

10-day average volume:
11,803,289
6,353,770

AM Best Affirms Credit Ratings of Electric Insurance Company and Its Subsidiary

2:16 pm ET July 24, 2019 (BusinessWire) Print

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of "a+" of Electric Insurance Company (EIC) (Beverly, MA) and its wholly owned subsidiary, Electric Insurance Ireland Designated Activity Company (EIIDAC) (Dublin, Ireland). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect EIC's balance sheet strength, which AM Best categorizes as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. The ratings also take into consideration the value-added commercial insurance services provided to General Electric Company (GE), as well as EIC's strategic importance to GE.

EIC's balance sheet strength assessment is underpinned by its strongest level of risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR). The company maintains good liquidity, with investments composed almost entirely of bonds and cash funds. The company provides commercial lines coverage to GE, and personal lines coverage to GE's current and former employees, as well as the general public.

The ratings of EIIDAC reflect its affiliation with EIC and its integration into EIC's business plan, as well as its supportive capitalization and its strategic role in providing commercial lines products to GE in the European Union. In addition, EIIDAC cedes a majority of its business to EIC through an excess of loss contract.

Partially offsetting these positive rating factors are the limitations on its commercial lines business to one policyholder, GE. However, most commercial lines are priced retrospectively contributing to reduced risk and steady earnings. While retrospective pricing features in commercial policies limit the earnings potential of an insurance company, this also protects a company from excessive loss by allowing it to charge back losses through premium adjustments. Although EIC's largest line of business is workers' compensation, it has limited exposure to terrorism and has mitigation plans in place in the event that the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) is not renewed in 2020.

Future positive rating action could be taken if EIC's profitability and capital appreciation continue to remain strong. However, the ratings may come under negative pressure if there is a material weakening in risk-adjusted capital or a reduction in EIC's strategic importance to GE or its overall business profile. A deterioration in GE's credit profile could also impact the company's ratings negatively.

This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best's Credit Ratings. For information on the proper media use of Best's Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best's Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.

Copyright (C) 2019 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190724005738/en/

SOURCE: AM Best

Fred Eslami
Associate Director
+1 908 439 2200, ext. 5406 
fred.eslami@ambest.com 

Susan Molineux 
Director 
+1 908 439 2200, ext. 5829 
susan.molineux@ambest.com 

Christopher Sharkey 
Manager, Public Relations 
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com 

Jim Peavy 
Director, Public Relations 
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

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