A.M. Best Affirms Ratings of AmTrust Group.Assigns Ratings to AmTrust International Underwriters Limited 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 the issuer credit rating (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 New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , 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) (New Hampshire), Rochdale Insurance Company (Rochdale) (New York, NY) and Wesco Insurance Company (Wesco). A.M. Best also has assigned an FSR of A- (Excellent) and an ICR of "a-"to AmTrust International Underwriters Limited (Dublin, Ireland) (AIUL), which operates 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 assigned an ICR of "bbb-" to 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 ) [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 stable. The rating reflects the consolidated group's solid balance sheet strength, sustained strong operating performance and the benefits derived from AFSI including the commitment to maintain sufficient capital, as well as access to additional capital to support the group's expanding operations. This support was evidenced through infusions of the proceeds of a private placement offering in combination with issuances of trust preferred securities. Partially offsetting these positive factors are the group's aggressive growth in both premium volumes and associated liabilities in recent years, the inherent risk in integrating new businesses acquired through renewal rights on existing books of business and the potential strain that this growth places on the group's risk-adjusted capitalization and infrastructure. Despite these concerns, the outlook is supported by the group's strong operating results, proven access to capital and commitment to prudent underwriting. For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors. For more information, visit www.ambest.com. |
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