aps insurance services, inc.
APS Insurance Services, Inc. is a wholly-owned subsidiary through which our insurance operations are managed. APS Insurance Services owns all of the capital stock of American Physicians Insurance Company (API).
API is the third largest medical malpractice insurance carrier in Texas and has been providing high quality medical malpractice coverage for over 30 years. API writes business in Texas, Arkansas, and recently began writing business in Oklahoma. From 1975 until its acquisition by APS in April of 2007, APS managed all operations of API, which operated as a reciprocal insurance exchange with limited ability to raise capital to expand its operations.
On November 27, 2007, we announced that A.M. Best Company
assigned a financial strength rating of A- (Excellent) and an issuer credit rating of “a-“ to
American Physicians Insurance Company (“API”).
A.M. Best cited API’s strengthened risk-adjusted capital position, historically
favorable operating performance, experienced management team and strong policyholder
retention in assigning the rating. They also noted the benefits derived from API’s status
as a newly acquired wholly owned subsidiary of APS, saying that the transaction had
provided API with financial flexibility and access to capital that it previously did not
possess.
To learn more about API, visit their website at www.api-c.com.