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Fitch lifts Doctor's
Fitch Ratings said it upgraded the insurer financial strength ratings to A from A- on Doctor's Co., an Intercompany Insurance Exchange and its wholly owned insurance subsidiaries.
The outlook is stable.
Fitch said it placed the ratings of Doctor's on positive rating watch following the company's announcement of its proposed acquisition of Scpie Holdings, Inc. for $281 million.
Fitch noted at this time that there was positive rating pressure on Doctor's ratings from the company's strong performance under Fitch's economic capital model, Prism, above-average underwriting profitability relative to peers, adequate loss reserve levels and an experienced management team, however, a further analysis of Scpie, its loss reserve position and a pro forma capital adequacy analysis of the combined entities was warranted to resolve the rating watch status.
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