CONTACTS:
FOR IMMEDIATE RELEASE
OLDWICK, N.J. - JUNE 20, 2008 12:00 AM (EDT)
A.M. Best Co. has affirmed the financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of "a" of the Argonaut Insurance Group (San Antonio, TX) and its members. A.M. Best also has affirmed the FSRs of A (Excellent) and ICRs of "a" of Colony Insurance Group (Richmond, VA) and its members and Rockwood Casualty Group (Rockwood, PA) and its members. The outlook for all ratings is stable. (See below for a detailed listing of the companies and ratings.)
The rating affirmations reflect the U.S. operations' supportive capitalization, strong operating performance of the continuing business segments and favorable market position as a national specialty underwriter with strong relationships with its primary distribution force. The ratings also acknowledge the explicit support provided by an affiliate, Argo Re Ltd. (Bermuda), as well as the financial flexibility of the publicly traded holding company, Argo Group International Holdings, Ltd. (Argo Group) (Bermuda) [NASDAQ: AGII]. The FSR of A (Excellent) and ICR of "a" of Argo Re with a stable outlook are unchanged.
The FSR of A (Excellent) and ICRs of "a" have been affirmed for the Argonaut Insurance Group and its following members:
- Argonaut Insurance Company
- Argonaut-Midwest Insurance Company
- Argonaut-Southwest Insurance Company
- Select Markets Insurance Company
- Argonaut Limited Risk Insurance Company
- Argonaut Great Central Insurance Company
The FSR of A (Excellent) and the ICRs of "a" have been affirmed for Colony Insurance Group and its following members:
- Colony Insurance Company
- Colony National Insurance Company
- Colony Specialty Insurance Company
The FSR of A (Excellent) and the ICRs of "a" have been affirmed for the Rockwood Casualty Group and its following members:
- Rockwood Casualty Insurance Company
- Somerset Casualty Insurance Company
For Best's Ratings, an overview of the rating process and rating methodologies, please visit Best's Rating Center.
Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.