A.M. Best Withdraws Ratings Of Victore Insurance Company Due To Merger

A.M. Best Co. has withdrawn the financial strength rating of B++ (Good)) and issuer credit rating of “bbb” of Victore Insurance Company (Victore) following the merger of Victore into American Safety Casualty Insurance Company effective August 2, 2011. Both companies are domiciled in Oklahoma City, OK.

American Safety Casualty Insurance Company is a subsidiary of American Safety Insurance Holdings Ltd. (NYSE: ASI).

A.M. Best remains the leading rating agency of captive insurers rating a wide variety of more than 200 captives in the United States and throughout the world.

For current Best’s Credit ratings and independent data on the captive and alternative insurance market, please visit www.ambest.com/captive.

The principal methodology used in determining these ratings is Best’s Credit Rating Methodology -- Global Life and Non-Life Insurance Edition, which provides a comprehensive explanation of A.M. Best’s rating process and highlights the different rating criteria employed. Additional key criteria utilized include: “A.M. Best’s Rating Methodology for Captive Insurance Companies.” Methodologies can be found at www.ambest.com/ratings/methodology.

Founded in 1899, 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 © 2011 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

Copyright Business Wire 2010

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