A.M. Best Places Ratings of Ariel Reinsurance Company Ltd. and Ariel Holdings, Ltd. Under Review.OLDWICK, N.J. -- A.M. Best Co. has placed 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 Ariel 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. Company, Ltd. (Ariel) (Hamilton, Bermuda) under review with negative implications. Concurrently, A.M. Best has placed the ICR of "bbb-" of Ariel Holdings, Ltd. under review with negative implications. These rating actions follow the announcement that Ariel Holdings, Ltd. intends to acquire Atrium Underwriting Plc (Atrium) (United Kingdom), a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. that manages Lloyd's Syndicates 570 and 609. The placing of Ariel's ratings under review is based on the technical aspects of the financing with regards to the acquisition, which need to meet A.M. Best's guidelines and criteria. Aside from the financing arrangements, A.M. Best views this transaction positively. A.M. Best notes that the benefits of the proposed transaction are that syndicates 570 and 609 are strong performers and would bring a seasoned and more diverse book of business in addition to broader market access to Ariel. Furthermore, this acquisition would enhance Ariel's market profile. The ratings of Ariel will remain under review pending A.M. Best's review of the transaction, which includes the financing, integration plan and its risk-adjusted capital position upon completion of the deal, which is subject to regulatory approval. For Best's Ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. , 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 The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industries, including the banking and insurance sectors. For more information, visit www.ambest.com. |
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