A.M. Best Places Ratings of First Marine Insurance Company Under Review.

OLDWICK, N.J. -- A.M. Best Co. has placed the financial strength rating (FSR) of B++ (Good) and the issuer credit rating (ICR) of "bbb" of First Marine Insurance Company (FMIC) (Osage Beach, MO) under review with positive implications.

These rating actions follow the recent announcement that FMIC has signed a definitive agreement to be acquired by American Modern Home Insurance Company (Amelia, OH), a member of American Modern Insurance Group (AMIG), subject to regulatory approval. The positive implications reflect A.M. Best's view that FMIC's FSR and ICR will likely be upgraded following the completion of the transaction to a level commensurate with the FSR of AMIG (currently A+ [Excellent]) due to the expectation that FMIC will be included as part of AMIG's intercompany pooling agreement.

FMIC is licensed in 25 states and is a mono-line writer of inland marine insurance specializing in coverage for non-commercial physical damage and liability coverage on pleasure boats used on inland deep water lakes and waterways. AMIG consists of eight property/casualty companies, of which seven participate in a pooling agreement and one is party to a 100% reinsurance agreement.

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 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.