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Article: A.M. Best Withdraws Ratings of Insurance Corp. of America Due to Legal Entity Merger
- Article from:
- Wireless News
- Article date:
- September 12, 2009
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Wireless News
09-12-2009
A.M. Best Withdraws Ratings of Insurance Corp. of America Due to Legal Entity Merger
Type: News
A.M. Best Co. has withdrawn the financial strength rating (FSR) of B- (Fair) and issuer credit rating (ICR) of "bb-" and assigned a category NR-5 (Not Formally Followed) to the FSR and an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 ...