AM Best Assigns Credit Ratings to Bridgeway Insurance Company; Withdraws Ratings of American Modern Surplus Lines Insurance Company

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa” to Bridgeway Insurance Company (Bridgeway) (Princeton, NJ). The outlook assigned to these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn the FSR of A+ (Superior) and the Long-Term ICR of "aa" of American Modern Surplus Lines Insurance Company (AMSLIC) (Amelia, Ohio). Both ratings had stable outlooks.

AMSLIC was a member of the American Modern Insurance Group of companies, a subsidiary of Munich Reinsurance Company (Munich Re), which was contributed to the Munich Reinsurance America Corporation group of companies, also a subsidiary of Munich Re. Following the contribution, the company changed its name to Bridgeway and re-domiciled to Delaware from Ohio.

The ratings of Bridgeway reflect its inclusion in the Munich Re group. AM Best categorizes Munich Re's balance sheet strength as strongest, its operating performance as strong, its business profile as very favorable and its enterprise risk management as very strong.

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