A.M. Best Withdraws Ratings of Accident Insurance Company, Inc

OLDWICK, N.J.--()--A.M. Best has downgraded the financial strength rating to B++ (Good) from A- (Excellent) and the issuer credit rating to “bbb” from “a-” of Accident Insurance Company, Inc (AIC) (Columbia, SC). The outlook for both ratings has been revised to negative from stable. Concurrently, A.M. Best has withdrawn the ratings due to management’s request to no longer participate in A.M. Best’s interactive rating process.

The rating downgrades reflect AIC’s sizeable reinsurance recoverable and the negative impact on the company’s Best Capital Adequacy Ratio (BCAR).

The methodology used in 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.

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 © 2014 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

Contacts

A.M. Best Company
Fred Eslami
Senior Financial Analyst
(908) 439-2200, ext. 5406
fred.eslami@ambest.com
or
Steven Chirico, CPA
Assistant Vice President
(908) 439-2200, ext. 5087
steven.chirico@ambest.com
or
Christopher Sharkey
Manager, Public Relations
(908) 439-2200, ext. 5159
christopher.sharkey@ambest.com
or
Jim Peavy
Assistant Vice President, Public Relations
(908) 439-2200, ext. 5644
james.peavy@ambest.com

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Contacts

A.M. Best Company
Fred Eslami
Senior Financial Analyst
(908) 439-2200, ext. 5406
fred.eslami@ambest.com
or
Steven Chirico, CPA
Assistant Vice President
(908) 439-2200, ext. 5087
steven.chirico@ambest.com
or
Christopher Sharkey
Manager, Public Relations
(908) 439-2200, ext. 5159
christopher.sharkey@ambest.com
or
Jim Peavy
Assistant Vice President, Public Relations
(908) 439-2200, ext. 5644
james.peavy@ambest.com