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A.M. Best Affirms Rating of Intrepid Insurance Company CONTACTS:
FOR IMMEDIATE RELEASE OLDWICK, N.J., June 16, 2008—A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of Intrepid Insurance Company (Intrepid) (Farmington Hills, MI). The outlook for both ratings is stable. The ratings reflect Intrepid’s solid capitalization, favorable loss ratios, effective management of exposures and strong synergies with its ultimate parent, Daimler AG [NYSE: DAI]. Partially offsetting these positive factors is the company’s
narrow business focus and dependency on its ultimate parent’s business
niche. The risk management team of Daimler AG takes an enterprise-wide approach to managing its risks and utilizing Intrepid as an integral tool in this process. Nonetheless, Intrepid’s long-term growth opportunities primarily depend on Daimler AG’s business success. A.M. Best remains the leading rating agency of captive insurers rating a wide variety of more than 200 captives in the United States and throughout the world. For current Best’s Ratings and independent data on the captive and alternative insurance market, please visit www.ambest.com/captive. Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visitwww.ambest.com. ### |
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