|[July 14, 2014]
A.M. Best Withdraws Ratings of Accident Insurance Company, Inc
OLDWICK, N.J. --(Business Wire)--
A.M. Best has downgraded the financial strength rating to B++
(Good) from A- (Excellent) and the issuer credit rating to "bbb" from
"a-" of Accident Insurance Company, Inc (AIC) (Columbia, SC). The
outlook for both ratings has been revised to negative from stable.
Concurrently, A.M. Best has withdrawn the ratings due to management's
request to no longer participate in A.M. Best's interactive rating
The rating downgrades reflect AIC's sizeable reinsurance recoverable and
the negative impact on the company's Best Capital Adequacy Ratio (BCAR).
The methodlogy 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.
A.M. Best Company is the world's oldest and most authoritative
insurance rating and information source. For more information, visit www.ambest.com.
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