OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has commented that the Financial Strength Ratings of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” of Houston Specialty Insurance Company, and its subsidiaries, Imperium Insurance Company, Great Midwest Insurance Company, Boston Indemnity Company, Inc. and Oklahoma Specialty Insurance Company, are unchanged by the recent announcement regarding the appointment of Andrew Robinson as the new chief executive officer (CEO) of Houston International Insurance Group, Ltd. (HIIG Group), the intermediate parent company. The outlook of these Credit Ratings (ratings) remains negative. All companies are members of HIIG Group and are headquartered in Houston, TX.
AM Best acknowledges Mr. Robinson’s extensive industry experience and track record in the global insurance industry. AM Best does not foresee any immediate rating actions as a result of this change and will continue to closely monitor the financial results of HIIG Group, as the day-to-day management of the company begins the transition from HIIG Group’s founder and outgoing CEO, Stephen L. Way, to Mr. Robinson.
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