PORTLAND, Ore., Nov. 24 /PRNewswire/ -- Rating agency A.M. Best has affirmed the excellent financial ratings of all Regence companies. A.M. Best evaluates Regence plans annually and issues a rating based on its assessment of each company's financial strength.
"The current economic climate means that rating agencies are giving extra scrutiny to the financial health of the companies they evaluate," said Mark Ganz President and CEO of Regence. "Since A.M. Best's outlook for the health insurance industry generally has been less than positive, we are very proud of these results. Our members and the communities we serve can feel especially confident about our ongoing ability to meet their needs."
The rating for Regence BlueShield in Washington continues to be A ("excellent") while Regence BlueCross BlueShield of Oregon, Regence BlueCross BlueShield of Utah, Regence Life and Health Insurance Company, Asuris Northwest Health and HealthWise maintained their previous ratings of A- (also "excellent"). Regence BlueShield of Idaho has a private rating.
"Our nation's financial crisis underscores the need for responsible financial management, and intensifies our commitment to the uncompromising stewardship of our members' health care dollars," said Ganz. "These ratings reflect our ongoing effort to control costs, enhance underwriting and operating results and maintain a strong financial performance."
Regence is a leading health insurer in the Northwest / Mountain State Region, offering health, life and dental insurance. Regence serves nearly three million members as Regence BlueCross BlueShield of Oregon, Regence BlueShield (selected counties in Washington), Regence BlueCross BlueShield of Utah and Regence BlueShield of Idaho. Each plan is a not-for-profit independent licensee of the Blue Cross and Blue Shield Association. Regence is committed to improving the health of our members and our communities, and to transforming our health care system. For more information, please visit regence.com.
Copyright©2008 PR Newswire.
All rights reserved