A.M. Best Co. has affirmed the financial strength rating of “B++” (Very Good) and the issuer credit rating of “bbb” (ICR) of Guernsey based captive insurer Rutland Insurance Limited with a stable outlook.
Subsequently, Best said it has “withdrawn both ratings and assigned an “NR-3″ (Rating procedure inapplicable) following the decision to put the company in run-off due to the disposal of Morrison Construction Services Limited—an affiliate company and Rutland’s sole source of premium income—by Anglian Water Group plc (AWG), the ultimate parent.”
Was this article valuable?
Here are more articles you may enjoy.
Berkely Says It’s No Longer Pressured to Push for Rate ‘Across the Board’ 
Opportunity for Private Flood Insurers With Threat of Another NFIP Lapse 
Hot Sauce Company Sues Manufacturer Over Exploding Bottles 
Navigators Can’t Parse ‘Additional Insured’ Policy Wording in Georgia Explosion Case 
