A.M. Best Withdraws N.C.’s Arrowpoint Capital Ratings at Company’s Request
At the request of Arrowpoint Capital Corp., A.M. Best Co. has withdrawn the financial strength ratings for the insurance company’s three risk-bearing entities: Royal Indemnity Company, Royal Surplus Lines Insurance Company and Security Insurance Company of Hartford.
The request was first made in early 2006 as part of the company’s ongoing restructuring of operations and follows previously announced ratings withdrawals by Standard & Poor’s Ratings Services and Moody’s Investors Service.
The request reflects the fact that, since 2003, Arrowpoint Capital has not required financial strength ratings, which are used to support new business writing. The move also eliminates the expense related to the rating service.
Source: A.M. Best
Popular Today
- Florida Meteorologist Predicts Where the Next Hurricane Will Hit, For a Price
- People Moves: Consilium Taps Carpenter’s Coleman for C-Suite After Co-CEO Baird Suddenly Exits; Everest Promotes Shaw as Chief Commercial Officer of Int’l Division
- State Farm Implements 27% Rate Increase for Illinois Homeowners
- US Tariffs Projected to Slow Global Economy and Insurance Premium Growth: Swiss Re