Insurance Technology Industry News

TMCNet:  A.M. Best Withdraws Ratings of MLBA Mutual Insurance Company Due to Merger

[February 14, 2013]

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A.M. Best Co. has withdrawn the financial strength rating (FSR) of B++ (Good) and issuer credit rating (ICR) of "bbb+" of MLBA Mutual Insurance Company (MLBA) (Lansing, MI) following its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.


[ Back To Insurance Technology Homepage's Homepage ]

FREE Insurance Technology enewslettter.

Events

Weekly Live Demo
Contact Center Solutions

Register Today!