SOURCE: American Physicians Service Group, Inc.

American Physicians Service Group, Inc.

October 26, 2009 12:14 ET

American Physicians Service Group, Inc. Announces Rating of A- (Excellent) From A.M. Best Company

AUSTIN, TX--(Marketwire - October 26, 2009) - American Physicians Service Group, Inc. ("APS") (NASDAQ: AMPH) today announced that A.M. Best Company ("A.M. Best"), the leading insurance rating organization, has affirmed its financial strength rating of "A-" (Excellent) for its insurance subsidiary, American Physicians Insurance Company ("API").

According to A.M. Best, "These ratings reflect API's excellent risk-adjusted capital position, solid history of operating profitability and strong policyholder retention levels." APS' low debt position was also considered a strong, positive indicator.

Ken Shifrin, Chairman of APS, stated, "We are pleased that A.M. Best continues to recognize our outstanding financial performance and strong balance sheet. The A.M. Best rating affirmation of A- (Excellent) is a reflection of the quality and dedication of our employees and commitment to our physician policyholders."

Tim LaFrey, President of APS, added, "The current economic climate has caused rating agencies to give extra scrutiny to the financial health of the companies they evaluate. Our excellent rating demonstrates our continued success during these challenging times through prudent growth in our physician policyholders, ongoing efforts to control costs and conservative reserving and investing practices."

APS is an insurance and financial services firm with subsidiaries and affiliates which provide medical malpractice insurance for physicians and other healthcare providers and brokerage and investment services to institutions and high net worth individuals. APS is headquartered in Austin, Texas.

This press release includes forward-looking statements related to APS that involve risks and uncertainties that could cause actual results to differ materially. These forward-looking statements are made in reliance on the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. For further information about these factors that could affect the future results of APS, please see the recent filings with the Securities and Exchange Commission. Prospective investors are cautioned that forward-looking statements are not guarantees of future performance. Actual results may differ materially from management expectations. Copies of the filings are available upon request to APS.

Contact Information

  • For further information, visit the APS website at www.amph.com or contact:
    Mr. Kenneth Shifrin, Chairman of the Board (or)
    Mr. Tim LaFrey, President (or)
    Mr. Marc Zimmermann, Chief Financial Officer
    American Physicians Service Group, Inc.
    1301 S. Capital of Texas Highway, C-300
    Austin, Texas 78746
    (512) 328-0888