Best has recently completed its review of the various Manhattan Insurance Group companies.
Here is a sampling of some of the positive comments about our operating companies:
Manhattan has a "demonstrated ability in managing...business."
The "Company's business is...well diversified... and expanding."
In regards to Manhattan financial condition Bests writes "Secure" and "Stable".
Regarding our ongoing financial condition
"The Company's capital and surplus has...increased in each of the past five years due to reported net income."
"increasing risk-adjusted capitalization position."
Other operational comments: "lowered ...expense structure."
"operational stability."
One company had "sizeable net income...due to underwriting income supplemented by investment income."
"favorable risk-adjusted capitalization for its insurance and investment risks."
"conservative, liquid investment portfolio."
"The company does not have any sub-prime mortgage exposure."
"It's short term investments and cash provide it with enhanced liquidity to cover...insurance benefits and expense disbursements."
While we all know economic conditions have yet to turn around, we are weathering the storm well.
We appreciate your business and hope we have earned your trust and faith.
Opportunities abound at Manhattan. Come grow with us.
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