Press Release - OCTOBER 27, 2014
A.M. Best Comments on the Ratings of American Reliable Insurance Company Following Acquisition Announcement
FOR IMMEDIATE RELEASE
OLDWICK - OCTOBER 27, 2014
The closing is expected to take place in the first quarter of 2015, and is subject to regulatory approvals and other customary closing conditions. It is expected that American Reliable will become a participant in the existing Global Indemnity Reinsurance Company Ltd. pool (Global Indemnity pool) following the close of the transaction. The participants in the Global Indemnity pool currently have an FSR of A (Excellent) and ICRs of "a," each with a stable outlook. For this reason, the positive outlook for the ICR of American Reliable is likely to be revised to stable upon the close and completion of A.M. Best's assessment of the transaction.
American Reliable's current ratings and strategic importance to Assurant will be re-evaluated should the transaction not close as anticipated.
The methodology used in determining these ratings is Best's Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best's rating process and contains the different rating criteria employed in the rating process. Best's Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
Key insurance criteria reports utilized:
A.M. Best Company is the world's oldest and most authoritative insurance rating and information source.