Michigan-based Meadowbrook Insurance Group Inc. reported that the ratings of certain of its insurance company subsidiaries have been upgraded by A.M. Best Company to “B++” (Very Good).
The upgrade reflects A.M. Best’s positive assessment of Meadowbrook’s financial condition as a result of the company’s
continued underwriting and operating improvements through 2004, the group’s solid capitalization and management’s knowledge and expertise in the alternative risk market.
The rating applies to three of Meadowbrook’s insurance company
subsidiaries: Star Insurance Company, Savers Property & Casualty Insurance Company, and Williamsburg National Insurance Company.
Additionally, A.M. Best reaffirmed the rating of the company’s other insurance company subsidiary, Ameritrust Insurance Corporation, as “B+”, with a positive outlook.
A.M. Best noted, “The rating also recognizes the significant improvement in 2004 earnings, Meadowbrook’s earnings prospects in
2005 and diminished reserve development reported from prior years.”
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