AM Best Assigns Credit Ratings to American Atlantic Assurance Co. Ltd.

OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of "a-" (Excellent) to American Atlantic Assurance Co. Ltd. (Malta). The outlook assigned to these Credit Ratings (ratings) is negative.

The ratings assigned to American Atlantic Assurance Co. Ltd. reflect its recent inclusion into a pooling agreement with North American Casualty Group (NAC). The ratings reflect NAC’s consolidated balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and marginal enterprise risk management. As a result of the company’s inclusion into NAC, its performance and financial strength will be influenced heavily by the actions of the pool as a whole. All companies in the pool are collectively referred to as NAC.

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, Best’s Performance Assessments, Best’s Preliminary Credit Assessments 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. For more information, visit www.ambest.com.

Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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Dan Hofmeister, CFA, FRM, CAIA, CPCU
Associate Director
+1 908 882 1893
[email protected]

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
[email protected]

Steven M. Chirico, CPA
Director
+1 908 882 1694
[email protected]

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
[email protected]

Source: AM Best

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