AM Finest Withdraws Credit score Rankings of American Sentinel Insurance coverage Firm

OLDWICK, N.J., September 16, 2021–(BUSINESS WIRE)–AM Finest has withdrawn the Monetary Power Ranking of B+ (Good) and the Lengthy-Time period Issuer Credit score Ranking of “bbb-” (Good) of American Sentinel Insurance coverage Firm (American Sentinel) (Harrisburg, PA). These Credit score Rankings (scores) have been underneath evaluate with growing implications pending the sale of American Sentinel.

The sale of American Sentinel to Pie Service Holdings was withdrawn. All of the enterprise in American Sentinel has been moved over into an affiliate, Aegis Safety Insurance coverage Firm (Aegis). The brand new and renewal e book of enterprise for American Sentinel has been rolled over to Aegis, efficient Jan. 1, 2021. Moreover, the corporate has acquired regulatory approval to enter right into a Loss Portfolio Switch and Quota Share Settlement between American Sentinel and Aegis, and administration moved the entire reserves to Aegis. On the present time, American Sentinel is a shell firm with no premium or reserves.

AM Finest’s coverage is for a last ranking to be accomplished together with a ranking withdrawal. Nonetheless, a last ranking couldn’t be accomplished because of the lack of enterprise and forward-looking monetary info essential to help the formation of a present ranking opinion.

This press launch pertains to Credit score Rankings which were printed on AM Finest’s web site. For all ranking info regarding the discharge and pertinent disclosures, together with particulars of the workplace chargeable for issuing every of the person scores referenced on this launch, please see AM Finest’s Current Ranking Exercise net web page. For added info relating to the use and limitations of Credit score Ranking opinions, please view Information to Finest’s Credit score Rankings. For info on the correct use of Finest’s Credit score Rankings, Finest’s Preliminary Credit score Assessments and AM Finest press releases, please view Information to Correct Use of Finest’s Rankings & Assessments.

AM Finest is a world credit standing company, information writer and information analytics supplier specializing within the insurance coverage trade. Headquartered in the USA, the corporate does enterprise in over 100 international locations with regional workplaces in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico Metropolis. For extra info, go to www.ambest.com.

Copyright © 2021 by A.M. Finest Ranking Providers, Inc. and/or its associates. ALL RIGHTS RESERVED.

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Contacts

David Braisted
Monetary Analyst
+1 908 439 2200, ext. 5120
[email protected]

Christopher Sharkey
Supervisor, Public Relations
+1 908 439 2200, ext. 5159
[email protected]

Joseph Burtone
Director
+1 908 439 2200, ext. 5125
[email protected]

Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
[email protected]

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