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A.M. Best Co. has placed under review with positive implications the financial strength rating of A- (Excellent) and issuer credit ratings of “a-” of
Developers Surety and Indemnity Company (Developers) (West Des Moines, IA) and its wholly owned subsidiary,
Indemnity Company of California (Indemnity) (Irvine, CA).
The rating action for both companies follows the announcement of a definitive agreement under which Developers’ immediate parent,
Insco Insurance Services, Inc., will sell all of its outstanding shares to
AmTrust Financial Services, Inc. (AmTrust) (headquartered in New York, NY) [NASDAQ:AFSI].