A.M. Best has downgraded its financial strength and credit ratings for insurer members of the AmTrust Group, not long after AmTrust Financial Services Inc. (AFSI) shareholders approved a $2.95 billion deal that will make it a private entity.
A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of Virginia Surety Company, Inc. (Virginia Surety) (Chicago, IL). The outlook for both ratings is stable.
Full Press Release from A.M Best: http://www3.ambest.com/ambv/bestnews/presscontent.aspx?AltSrc=14&refnum=21881
August 29, 2014 09:24 AM Eastern Daylight Time
OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has assigned a financial strength rating of B++ (Good) and an issuer credit rating of “bbb+” to Ally International Insurance Company Ltd. (Ally IICL), which is ultimately owned by Ally Financial, Inc. (Ally Financial). The outlook assigned to both ratings is stable. Ally IICL is domiciled in Hamilton, Bermuda.