A.M. Best Withdraws Ratings of WRM America Indemnity Company

OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best has removed from under review with negative implications and affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of WRM America Indemnity Company (WRMAI) (Uniondale, NY). The outlook assigned to both ratings is negative. Concurrently, at the request of the company, these ratings have been withdrawn pursuant to the impending execution of a comprehensive reinsurance agreement under which all premiums and reserves of WRMAI, from inception in 2009 through and including Dec. 31, 2014, are expected to be ceded to a highly rated reinsurer, effective Jan. 1, 2015.

The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.

Key insurance criteria reports utilized:

• Alternative Risk Transfer (ART)
• Rating Run-Off Insurers and Specialists
• Risk Management and the Rating Process for Insurance Companies
• Understanding BCAR for Property/Casualty Insurers

This press release relates to rating(s) 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 visit A.M. Best’s Ratings & Criteria Center.

A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2015 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

A.M. Best Company
Fred Eslami, (908) 439-2200, ext. 5406
Senior Financial Analyst
[email protected]
or
Steven Chirico, CPA, (908) 439-2200, ext. 5087
Assistant Vice President
[email protected]
or
Christopher Sharkey, (908) 439-2200, ext. 5159
Manager, Public Relations
[email protected]
or
Jim Peavy, (908) 439-2200, ext. 5644
Assistant Vice President, Public Relations
[email protected]

Source: A.M. Best Company

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Jetour named FIBA Basketball World Cup 2027 Global Car Supplier
• Retirement Income Planning Florida Launches No-Cost 'Income Gap Analysis' Program for Pre-Retirees
• Some Hair Loss in Men Is Linked to Use of Weight Loss Drugs