Best’s News & Research Service - April 16, 2020 10:05 AM (EDT)
AM Best Assigns Credit Ratings to Bridgeway Insurance Company; Withdraws Ratings of American Modern Surplus Lines Insurance Co
- April 16, 2020 10:05 AM (EDT)
Oldwick //BestWire// - AM Best has assigned a Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa” to Bridgeway Insurance Company (Bridgeway) (Princeton, NJ). The outlook assigned to these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn the FSR of A+ (Superior) and the Long-Term ICR of “aa” of American Modern Surplus Lines Insurance Company (AMSLIC) (Amelia, Ohio). Both ratings had stable outlooks.
AMSLIC was a member of the American Modern Insurance Group of companies, a subsidiary of Munich Reinsurance Company (Munich Re), which was contributed to the Munich Reinsurance America Corporation group of companies, also a subsidiary of Munich Re. Following the contribution, the company changed its name to Bridgeway and re-domiciled to Delaware from Ohio.
The ratings of Bridgeway reflect its inclusion in the Munich Re group. AM Best categorizes Munich Re’s balance sheet strength as strongest, its operating performance as strong, its business profile as very favorable and its enterprise risk management as very strong.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.