A.M. Best Affirms Ratings for AmTrust Group; Maintains Positive Outlook.OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating (FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current applications. Every open window takes some space in this area. See Windows memory limitation. ) of A- (Excellent) and issuer credit ratings (ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. ) of "a-" of AmTrust Group (AmTrust) (New York, NY). The ratings apply to AmTrust International Insurance, Ltd. (AII AII Auto ID Infrastructure AII Agence de l'Innovation Industrielle (French Agency for Industrial Innovation) AII Active Input Interface (used in UNI PMD specs for Copper/Fiber) AII ASEAN Information Infrastructure ) (Bermuda), Technology Insurance Company, Inc. (Technology) (Nashua, NH), Rochdale Insurance Company (Rochdale) (New York, NY), Wesco Insurance Company (Wesco) (Dover, DE), Milwaukee Casualty Insurance Company (MCIC MCIC Macedonian Cultural and Information Centre (UK) MCIC Missing Children Investigation Center MCIC Managed Care Information Center MCIC Manitoba Crop Insurance Corporation MCIC Macedonian Center for International Cooperation ) (Brookfield, WI), Security National Insurance Company (SNIC SNIC Singapore National Institute of Chemistry SNIC Snow and Ice Clearance SNIC Sub-Network Independent Convergence (functions) SNIC Standard Network Interface Card ) (Dallas, TX), Trinity Universal Insurance Company of Kansas, Inc. (TUIC) (Topeka, KS), Trinity Lloyd's Insurance Company (Trinity Lloyds) (Dallas, TX) and AmTrust International Underwriters Limited (Dublin, Ireland) (AIUL), which operate through an intercompany quota share reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. arrangement with AII. Concurrently, A.M. Best has affirmed the ICR of "bbb-" of the parent holding company, AmTrust Financial Services, Inc. (AFSI AFSI AmTrust Financial Services, Inc (New York, NY casualty insurer) AFSI Americans for a Safe Israel AFSI Asthma-Friendly Schools Initiative AFSI American Food Safety Institute AFSI American Feng Shui Institute ) (New York, NY) [NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AFSI]. The outlook for all ratings is positive. The ratings reflect the consolidated group's solid balance sheet strength, sustained strong operating performance within its niche market segments and the benefits derived from its parent, including the commitment to maintain sufficient capital to support the group's expanding operations. Partially offsetting these positive factors are the group's growth in both premium volumes and associated liabilities in recent years primarily achieved through renewal rights transactions; the inherent risk associated with integrating new business; and the impact of both realized and unrealized investment losses in 2008, which constrained growth in the group's consolidated equity. Despite these concerns, the outlook reflects the group's sustained strong operating results within its market segments, ongoing access to capital and commitment to prudent underwriting through its proven business platform. For Best's Credit Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. The principal methodologies used in determining these ratings, including any additional methodologies and factors that may have been considered, can be found at www.ambest.com/ratings/methodology. Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com. |
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