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Article: A.M. Best Withdraws Ratings of American Feed Industry Insurance Company Risk Retention Group, Inc.(Industry overview)
- Article from:
- Business Wire
- Article date:
- July 1, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and issuer credit rating of "a-" of American Feed Industry Insurance Company Risk Retention Group, Inc. (AFIIC) (Des Moines, IA). The outlook for both ratings is stable.
Concurrently, A.M. Best has withdrawn the ratings at the company's request and assigned a category NR-4 to the FSR and an "nr" to the ICR, which will be effective July 1, 2009.
The ratings reflect AFIIC's excellent capitalization, improved operating performance, historically low loss ratios. AFIIC has maintained consistent earnings and surplus levels over the last five years and adheres to a very ...