We’re pleased to report that our two rating agencies have both recently reaffirmed our strong ratings. In reaffirming our “A (Excellent)” rating with a “stable” outlook, the Best’s report stated:
“The rating reflects [AEGIS’s] excellent capitalization and historically strong long-term financial performance. Reserving practices are adequate for the losses incurred and hazards insured. AEGIS’s investment strategy emphasizes diversification and a relatively conservative approach to preservation of capital and yield enhancement. … AEGIS continues to demonstrate a strong market profile as evidenced by a high member count retention ratio, an adaptive and responsive management, and the expansion of programs within its corporate mission. … This strategy has brought significant growth while retaining virtually all of the original core membership…” (A.M. Best Company) Fitch has also reaffirmed its “stable A+” rating stating:
“The strong rating of AEGIS reflects the company’s leading market position, favorable capitalization profile, and high member retention rate. … Fitch believes that AEGIS has a strong capital position as evidenced by its low operating leverage and favorable level of surplus.” (Fitch Ratings)
These strong ratings are important in many ways: They establish AEGIS in the insurance marketplace as a solid foundation for your placements. They enable us to maintain the high quality panel of reinsurers who help stabilize your risk financing. And they help us attract new members that add scale and diversity to our portfolio of risk.
Our series of regional meetings with members and brokers was well received last year and we’re pleased to announce the schedule and locations for 2004:
Dallas — Wednesday, April 14
Jersey City — Wednesday, May 5
Seattle — Tuesday, June 22
Las Vegas — Tuesday, October 19
As those of you who have attended one of our regional meetings already know, the main purpose is to give you an intimate opportunity to tell us what you need and how we’re doing. Most attendees also found these forums to be a great opportunity for comparing notes on risk management issues with other risk managers and brokers. We’ll also spend some time telling you about our latest initiatives.
The meeting is a one-day event so most of you will be able to drive or fly between home and the meeting on the same day. However, if you’d like to stay overnight, AEGIS will reimburse one person from each member company for one night’s stay in the meeting hotel.
We’re finalizing the meeting details now and we’ll provide specific information for the meeting in your area when we get closer to the actual dates. We look forward to seeing you!
The Risk and Insurance Management Society Annual Conference will be held at the San Diego Convention Center in San Diego, CA from April 18 to 22. We’ve noticed that more of our members attend RIMS each year. Over the last few years we’ve set up a small booth on the exhibit floor and maintained a hospitality suite at the main conference hotel where members and brokers can meet with the AEGIS staff who will be available to you during the conference. Please let us know if you are planning to attend RIMS this year by contacting Gil Gould by e-mail and we will contact you with all the details.
The AEGIS Roundtable program for 2004 is now underway. This year’s second seminar, “Defending Damages Claims,” will explore the key aspects of the initial investigation, information gathering, and case preparation, and will culminate with examples of questioning witnesses at trial. It will be presented on March 18 in our Jersey City office and again on April 15 in Williamsburg, VA.
As always, you're welcome to attend in person or by videoconference, and Continuing Legal Education (CLE) credits are offered. For more information or to register online, please refer to the 2004 Roundtable brochure posted on the AEGIS website.