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Article: A.M. Best Withdraws Ratings of Insurance Corp. of America Due to Legal Entity Merger.
- Article from:
- Health & Beauty Close-Up
- Article date:
- September 11, 2009
CopyrightCOPYRIGHT 2009 Close-Up Media, Inc. 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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A.M. Best Co. has withdrawn the financial strength rating (FSR) of B- (Fair) and issuer credit rating (ICR) of "bb-" and assigned a category NR-5 (Not Formally Followed) to the FSR and an "nr" to the ICR of Insurance Corp. of America (ICA).
These rating actions follow the recent merger of ICA with and into its former affiliate, American Physicians Assurance Corp. (American Physicians). In conjunction with the merger, the corporate existence of ICA was dissolved ...
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