A.M. Best Reaffirms Balboa “A” (Excellent) Ratings

As reported in financial news outlets, A.M. Best has reaffirmed our “A” (Excellent) rating for our property and casualty companies, as well as our “A-” (Excellent) rating for our life companies, effective as of February 1, 2007.

“Balboa continues to have strong statutory financial results, despite the recent increase in hurricane activity, which has allowed us to build on our already strong capital base,” explained Laurie Fitzgerald, executive vice president and chief risk officer. “This positions us well for our planned future growth.”

A.M. Best’s press release noted that the ratings of Balboa Insurance Group’s property and casualty companies reflect their solid capitalization, underwriting profitability and “the benefits [they derive] from being part of Countrywide Financial Corporation (CFC).”

“Our focus on exceeding our customers’ expectations, in combination with our strategy of strong underwriting, exposure management, controlled growth and diversification of products, has led to our success,” said Bob James, president and CEO, Balboa Insurance Group.

A.M. Best Company is a leading credit rating organization serving the financial services sector, including banking and insurance. Ratings represent A.M. Best’s opinion of an insurer’s financial strength and its ability to meet ongoing obligations to policyholders. For the latest rating, visit www.ambest.com.

For more information about Balboa’s A.M. Best ratings, please contact Laurie Fitzgerald at 949-222-8040.