Line Of Credit Rate

OLDWICK, N.J.--(BUSINESS WIRE)--June 6, 2007--A.M. Best Co. has assigned a financial strength rating of A (Excellent) and an issuer credit rating of "a+" to Jefferson Insurance Company (Jefferson) (New York). The outlook is stable, in line with that of the parent company, Elvia Reiseversicherungs-Gesellschaft AG (Elvia). The ratings reflect the full rating enhancement from the explicit support in the form of a 90% quota share reinsurance agreement with Elvia. Elvia acquired Jefferson from Allianz Global Risks US Insurance Company on April 1, 2007 to front the U.S. travel insurance business (mainly trip cancellation business), previously fronted by another insurance company and ceded to Elvia. A.M. Best expects the newly acquired subsidiary to generate gross premiums written of approximately USD 25 million in 2007 and to grow significantly in 2008 once the existing fronting arrangement has been phased out.

Regency Centers Sells $400 Mln. Of 10-Yr Senior Unsecured Notes ...

6/5/2007 2:46:03 PM Regency Centers Corp. (REG) on Tuesday said its operating partnership, Regency Centers, L.P., finalized the sale of $400 million of 5.875% ten-year senior unsecured notes under its existing shelf registration statement. The notes are due June 15, 2017 and were priced at 99.527%. The company said it would use the net proceeds to reduce borrowings under Regency's corporate line of credit.



Intertainment Media Agrees To Buy Minority Equity Interest In DC NetCast Media - Quick Facts [INT.V]

6/5/2007 2:41:43 PM Intertainment Media Inc. (INT.V) on Tuesday said it agreed to buy a minority equity interest in DC NetCast Media Inc., a privately held Toronto, Canada company with diversified holdings in both content assets and technology IP.

Ratings Roundup: Jefferson; Southern Guaranty; Professionals Direct

A.M. Best Co. has assigned a financial strength rating of "A" (Excellent) and an issuer credit rating of "a+" to New York-based Jefferson Insurance Company. The outlook is stable, in line with that of the parent company, Elvia Reiseversicherungs-Gesellschaft AG, and "reflect the full rating enhancement from the explicit support in the form of a 90 percent quota share reinsurance agreement with Elvia," said Best. The rating agency explained that "Elvia acquired Jefferson from Allianz Global Risks US Insurance Company on April 1, 2007 to front the U.S. travel insurance business (mainly trip cancellation business), previously fronted by BCS Insurance Company and ceded to Elvia." Best said it "expects the newly acquired subsidiary to generate gross premiums written of approximately $25 million in 2007, rising to approximately $75-100 million in 2008 once the existing fronting arrangement has been phased out."

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