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A.M. Best has commented that the financial strength rating (FSR) of A (Excellent) and the issuer credit rating (ICR) of “a” of
Comp Options Insurance Company, Inc. (Comp Options) (Jacksonville, FL) are unchanged following the announcement that
AmTrust Financial Services, Inc. (AmTrust) (headquartered in New York, NY) [NASDAQ:AFSI] has agreed to acquire Comp Options, a subsidiary of
Blue Cross and Blue Shield of Florida, Inc. (Florida Blue). The outlook for both ratings is stable.
The transaction between AmTrust and Comp Options is expected to close in the fall of 2014 and is subject to regulatory approvals and other customary closing conditions. At that time, it is planned that Comp Options will become a participant in the existing AmTrust pool, the current participants of which are assigned an FSR of A (Excellent) and ICRs of “a.”