TMCnet - World's Largest Communications and Technology Community



A.M. Best Places Ratings of the Members of SPARTA Insurance Group Under Review
[February 14, 2014]

A.M. Best Places Ratings of the Members of SPARTA Insurance Group Under Review

OLDWICK, N.J. --(Business Wire)--

A.M. Best Co. has placed the ratings of SPARTA Insurance Group's members (collectively known as SPARTA) under review with negative implications, as it has started a strategic plan to review certain options including, but not limited to, sale of the group. SPARTA's members include SPARTA Insurance Company, SPARTA American Insurance Company and SPARTA Specialty Insurance Company. All companies are headquartered in Hartford, CT.

Concurrently, A.M. Best has downgraded SPARTA's financial strength rating to B++ (Good) from A- (Excellent) and issuer credit rating to "bbb" from "a-". These rating actions follow recent discussions with SPARTA managemet regarding a large unanticipated prior year reserve charge in the fourth quarter of 2013. A.M. Best will monitor the final results when SPARTA files its year-end 2013 statutory results.

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

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

Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

[ Back To's Homepage ]

Technology Marketing Corporation

35 Nutmeg Drive Suite 340, Trumbull, Connecticut 06611 USA
Ph: 800-243-6002, 203-852-6800
Fx: 203-866-3326

General comments:
Comments about this site:


© 2018 Technology Marketing Corporation. All rights reserved | Privacy Policy