A.M. Best Co. has upgraded the financial strength rating to A (Excellent) from A- (Excellent) and the issuer credit ratings to “a” from “a-” of Developers Surety and Indemnity Company (Developers) (West Des Moines, IA) and its wholly owned subsidiary, Indemnity Company of California (Indemnity) (Irvine, CA). All ratings have been removed from under review with positive implications and assigned a stable outlook.
The ratings reflect the closure of the acquisition of Developers and Indemnity by AmTrust Financial Services, Inc. (ASFI) [NASDAQ:AFSI]. Additionally, the ratings reflect the explicit support provided by AFSI’s Bermuda subsidiary, AmTrust International Insurance, Ltd., in the form of intercompany quota share agreements that were executed following the receipt of regulatory approval.
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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV