AM Best Withdraws Credit Ratings of American Modern Select Insurance Company
- April 10, 2026 02:49 PM (EDT)
//BestWire// - AM Best has withdrawn the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa” (Superior) of American Modern Select Insurance Company (AMSIC) (Cincinnati, Ohio). AMSIC entered into an assumption of liabilities agreement with American Modern Home Insurance Company (AMHIC) on June 20, 2025, in which it transferred all its rights and obligations to AMHIC. Subsequently, AMSIC was sold to an undisclosed buyer on Nov. 7, 2025. Given the liability transfer and the new ownership, AM Best is unable to determine a final rating assessment of AMSIC.
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 use of Best’s Credit Ratings (BCR), Best’s Performance Assessments (PA), Best’s Preliminary Credit Assessments (PCA) and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
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 London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.