Press Release - NOVEMBER 08, 2018
A.M. Best Places Credit Ratings of Houston International Insurance Group, Ltd.’s Subsidiaries Under Review
FOR IMMEDIATE RELEASE
OLDWICK - NOVEMBER 08, 2018
These Credit Ratings (ratings) have been placed under review with developing implications due to the announcement in April 2018 that HIIG, Ltd. and its controlling shareholder intend to review alternative capital opportunities for future expansion and the potential for organizational changes arising from any transaction or initiative. Given management’s efforts since that announcement, A.M. Best expects these ratings to remain under review until any resulting transaction or initiative is concluded, and A.M. Best completes its assessment of those actions. A.M. Best will continue to monitor any interim developments, including the integration efforts pertaining to BIC and take any necessary rating action as appropriate. The last effective date for these ratings, excluding BIC, was Oct. 10, 2017.
This press release relates to Credit Ratings that have been published on A.M. 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 A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.
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