A.M. Best Withdraws Ratings of Auto-Owners Specialty Insurance Company

OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best has withdrawn the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of Auto-Owners Specialty Insurance Company (AOSIC) (Dover, DE).

Auto-Owners Insurance Company completed the acquisition of AOSIC, formerly Little River Insurance Company, and its sister company, Atlantic Casualty Insurance Company (Atlantic) on Jan. 1, 2016. As a part of the sale, the intercompany pooling agreement between AOSIC and Atlantic was unwound on Dec. 31, 2015, making AOSIC a clean shell at the time of purchase. The sale of AOSIC has resulted in A.M. Best withdrawing its ratings for this entity.

Atlantic remains under review with positive implications while A.M. Best discusses its function going forward within the Auto-Owners Insurance Group.

This press release relates to rating(s) that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please visit A.M. Best’s Ratings & Criteria Center.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2016 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160113006272/en/

A.M. Best
Joel Silverthorn, 908-439-2200, ext. 5120
Senior Financial Analyst
[email protected]
or
Christopher Sharkey, 908-439-2200, ext. 5159
Manager, Public Relations
[email protected]
or
Greg Williams, 908-439-2200, ext. 5815
Assistant Vice President
[email protected]
or
Jim Peavy, 908-439-2200, ext. 5644
Assistant Vice President, Public Relations
[email protected]

Source: A.M. Best

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