OLDWICK, N.J., October 01, 2021–(BUSINESS WIRE)–AM Greatest has positioned beneath evaluation with optimistic implications the Monetary Energy Ranking of A- (Glorious) and the Lengthy-Time period Issuer Credit score Rankings of “a-” (Glorious) of AmFed Nationwide Insurance coverage Firm and its 100% reinsured subsidiaries, AmFed Casualty Insurance coverage Firm and AmFed Benefit Insurance coverage Firm, collectively known as AmFed Insurance coverage Group (AmFed). All firms are domiciled in Ridgeland, MS.
The beneath evaluation with optimistic implications standing displays the announcement on Sept. 30, 2021, of a definitive settlement beneath which Ascot Insurance coverage Firm (AIC) will purchase the entire excellent widespread inventory of AmFed. AIC’s intermediate dad or mum firm, Ascot Group Restricted (Ascot), is a property and specialty (re)insurance coverage group.
AmFed will turn into an entirely owned subsidiary of AIC and can proceed to function beneath the AmFed model. AM Greatest believes that AmFed will derive operational and monetary advantages from being a part of the bigger Ascot group.
The transaction is topic to customary closing situations, together with regulatory approvals. The rankings will stay beneath evaluation till the shut of the transaction and a evaluation by AM Better of the post-transaction particulars. The transaction is predicted to shut within the fourth quarter of 2021.
This press launch pertains to Credit score Rankings which were printed on AM Greatest’s web site. For all score info referring to the discharge and pertinent disclosures, together with particulars of the workplace chargeable for issuing every of the person rankings referenced on this launch, please see AM Greatest’s Latest Ranking Exercise internet web page. For added info relating to the use and limitations of Credit score Ranking opinions, please view Information to Greatest’s Credit score Rankings. For info on the right use of Greatest’s Credit score Rankings, Greatest’s Preliminary Credit score Assessments and AM Greatest press releases, please view Information to Correct Use of Greatest’s Rankings & Assessments.
AM Greatest 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.
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Robert Valenta, CPCU
Senior Monetary Analyst
+1 908 439 2200, ext. 5291
Raymond Thomson, CPCU, ARe, ARM
+1 908 439 2200, ext. 5621
Supervisor, Public Relations
+1 908 439 2200, ext. 5159
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