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| [February 14, 2013] |
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A.M. Best Withdraws Ratings of MLBA Mutual Insurance Company Due to Merger
OLDWICK, N.J. --(Business Wire)--
A.M. Best Co. has withdrawn the financial strength rating (FSR)
of B++ (Good) and issuer credit rating (ICR) of "bbb+" of MLBA Mutual
Insurance Company (MLBA) (Lansing, MI) following its conversion and
merger into Conifer Insurance Company (Conifer) (Southfield, MI).
This transaction closed on January 29, 2013, at which time the total
consideration paid by Conifer was distributed to MLBA policyholders in
exchange for MLBA's assets and liabilities. Conifer has an FSR of B++
(Good) and an ICR of "bbb".
The methodology used n determining these ratings is Best's Credit
Rating Methodology, which provides a comprehensive explanation of A.M.
Best's rating process and contains the different rating criteria
employed in the rating process. Best's Credit Rating Methodology can be
found at www.ambest.com/ratings/methodology.
Founded in 1899, 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 © 2013 by A.M. Best Company, Inc. ALL RIGHTS
RESERVED.
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