Best’s News & Research Service - January 28, 2021 09:20 AM (EST)
AM Best Withdraws Credit Ratings of Catlin Indemnity Company
- January 28, 2021 09:20 AM (EST)
Oldwick //BestWire// - AM Best has withdrawn the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-”of Catlin Indemnity Company (CIC) (Stamford, CT), following the Nov. 23, 2020, acquisition of CIC by Root, Inc. and Root Stockholdings, Inc. from its former parent, XL Bermuda Ltd. No final rating action was taken due to CIC effectively being sold as a shell.
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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.