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Article: A.M. Best Places Ratings of Producers Agriculture Insurance Company and Its Affiliate Under Review With Developing Implications.
- Article from:
- Business Wire
- Article date:
- September 10, 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 placed the financial strength rating of B++ (Good) and issuer credit ratings (ICR) of "bbb" of Producers Agriculture Insurance Company (PAIC) and its 100% reinsured affiliate, Producers Lloyds Insurance Company (PLIC) under review with developing implications. All companies are domiciled in Amarillo, TX
On September 2, 2009, Producers Ag Insurance Group, Inc. (ProAg), the immediate parent of PAIC and PLIC, entered into a definitive agreement to be acquired by CUNA Mutual Investment Corporation (CMIC), whereby CMIC would acquire the remaining 77.4% of ProAg that it does not already own. While the acquisition is not expected to ...