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A.M. Best Co. has placed under review with developing implications the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of
Wright National Flood Insurance Company (WNFIC) (San Antonio, TX). These rating actions follow the recent announcement by WNFIC of the transaction with 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 acquire 100% of the membership interests of TWIG and its subsidiaries, with the exception of
WRM America Indemnity Company (Uniondale, NY). However, the proposed transaction does include WNFIC and Wright National Flood Insurance Services, LLC.