A.M. Best Withdraws Ratings of TransAm Assurance Company

OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best has affirmed the financial strength rating of B+ (Good) and the issuer credit rating of “bbb-“ of TransAm Assurance Company (TransAm) (Phoenix, AZ), a subsidiary of Trans World Assurance Company (TWA). The outlook for both ratings is stable. Concurrently, A.M. Best has withdrawn the ratings of TransAm in response to the company’s request to no longer have this entity participate in A.M. Best’s interactive rating process.

The affirmation of the ratings reflects TransAm’s strong capital position in excess of its insurance liabilities, partially offset by the run-off nature of its business profile. The company’s investment portfolio is of excellent credit quality and highly liquid. TransAm’s business profile is modest as all of its remaining liabilities are in run-off with a minor level of operating losses recorded over the past two years.

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 Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2015 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

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A.M. Best Company
Keith Behrmann, 908-439-2200, ext. 5733
Financial Analyst
[email protected]
or
Rosemarie Mirabella, 908-439-2200, ext. 5892
Assistant Vice President
[email protected]
or
Christopher Sharkey, 908-439-2200, ext. 5159
Manager, Public Relations
[email protected]
or
Jim Peavy, 908-439-2200, ext. 5644
Assistant Vice President, Public Relations
[email protected]

Source: A.M. Best Company

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