American Independent Under Review

The “C++” rating of American Independent Insurance Co. was placed under review with developing implications by A.M. Best. On Jan. 3, 2001, Arch Capital Group Ltd. announced that it had entered into an agreement to acquire all common stock of American Independent. As a result, the rating will stay under review until the expected close of the transaction, expected sometime in the first quarter of 2001, when discussions can be undertaken with management regarding the future strategies and plans for the company.