Article: A.M. Best Withdraws Ratings of Insurance Corp. of America Due to Legal Entity Merger.

A.M. Best Co. has withdrawn the financial strength rating (FSR) of B- (Fair) and issuer credit rating (ICR) of "bb-" and assigned a category NR-5 (Not Formally Followed) to the FSR and an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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