A.M. Best has withdrawn the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+”, each with a stable outlook, of Great Lakes Casualty Insurance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.
Was this article valuable?
Here are more articles you may enjoy.
Twice Injured Firefighter Loses Second Workers’ Compensation Claim 
Underwriter, Actuary Fears of AI Drop; Work Needed on Collaboration 
Viewpoint: Artificial Intelligence Is Rewriting the Rules for Commercial Lines 
Waymos Froze, Blocked Traffic During San Francisco Power Outage 
