OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of 21st Century Preferred Insurance Company (21st Century) (Harrisburg, PA).
This rating action follows the public announcement by Trisura Group Ltd. (Trisura) of its intent to acquire 21st Century Preferred Insurance Company for an undisclosed amount.
These ratings will remain under review pending the closing of the sale and completion of AM Best’s analysis of the transaction and 21st Century’s role within the Trisura organization.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
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