PMA Rating Changed

The FSR of PMA Capital Insurance Co. was changed from ‘A+’ to ‘A’ by A.M. Best, which noted that the change reflects near-term implications of the reinsurer’s corporate realignment and recent deterioration in profitability. However, A.M. Best indicated that positive implications of the restructuring were also taken into account. The realignment involved the subsidiaries of PMA Capital Corp; the holding company of PMA Reinsurance Corp., afterwards renamed PMA Capital Insurance Co.; PMA Insurance Group; and Caliber One Indemnity Co.