A.M. Best has withdrawn the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+”, each with a stable outlook, of Great Lakes Casualty Insurance Co. (Great Lakes) in Grand Rapids, Michigan.
The rating withdrawals reflect the sale of Great Lakes by its ultimate parent company, Main Street America Group Mutual Holdings Inc. (Main Street) to a subsidiary of Enstar Group Limited, which closed on Oct. 31, 2017.
The sale has resulted in A.M. Best withdrawing the Credit Ratings (ratings) of Great Lakes. A.M. Best’s policy is for a final rating to be completed along with a rating withdrawal. However, a final rating was not able to be completed, as the final closing of the transaction occurred prior to notice to A.M. Best.