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A.M. Best Co. has placed under review with negative implications the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of
WRM America Indemnity Company (WRMAI) (Uniondale, NY). These rating actions follow the recent announcement by WRMAI of the transaction involving its ultimate parent,
The Wright Insurance Group, LLC (TWIG) and Brown & Brown, Inc.
(B&B) [NYSE: BRO].
Under the terms of the transaction and subject to regulatory approvals, B&B will be acquiring 100% of the membership interests of TWIG and its subsidiaries, with the exception of WRMAI.