A.M. Best Affirms and Withdraws Ratings of New Technology Insurance
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OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best Co. has affirmed the financial strength rating (FSR) of "A-" (Excellent) and the issuer credit rating (ICR) of "a-" of New Technology Insurance (NTI) (Ireland). The outlook for both ratings is stable. Concurrently, A.M. Best has withdrawn the ratings at the company's request and assigned a category "NR-4" to the FSR and "nr" to the ICR. The rating actions reflect the decisions of NTI's management to withdraw from A.M. Best's interactive rating process following a change of focus towards more intra-group business.
For Best's Credit Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.
The principal methodologies used in determining these ratings, including any additional methodologies and factors that may have been considered, can be found at www.ambest.com/ratings/methodology.
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.
Source: A.M. Best Company
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