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PICL |
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| If PGL provides additional explicit support, then PICL may be able to recover a secure rating. Best expects PICL to improve its combined ratio during 2006 to approximately 100% (down from approximately 105% anticipated in 2005) due mainly to the company's concentration on its accident and health portfolio. Best believes that PICL is likely to continue to improve its business profile through internal distribution channels, either through additional agencies acquired by its ultimate parent, Primary Group Limited (PGL), or organic growth from agencies that PGL already owns. |
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