A.M. Best Revises Outlooks to Positive for Members of AmeriTrust Insurance Group

OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “bbb+” for the members of the AmeriTrust Insurance Group (AmeriTrust), which operate under an intercompany reinsurance pooling agreement. (See below for a listing of the companies.)

The Credit Ratings (ratings) reflect AmeriTrust’s balance sheet strength, which A.M. Best categorizes as very strong, as well as its marginal operating performance, neutral business profile and marginal enterprise risk management. The positive outlook reflects steps taken by AmeriTrust’s new executive team to improve underwriting results and develop a sustainable long-term business plan. A.M. Best will continue monitoring the new team’s progress against its plan. Sustained, favorable long-term operating performance remains a key rating factor going forward. Rating factors that could impact the outlook adversely include unfavorable operating profitability trends, outsized underwriting or investment losses and a decline in risk-adjusted capital that does not support the current rating levels.

The outlooks have been revised to positive from stable and the FSR of B++ (Good) and Long-Term ICRs of “bbb+” have been affirmed for the following members of the AmeriTrust Insurance Group:

• Star Insurance Company

• Century Surety Company

• Savers Property and Casualty Insurance Company

• ProCentury Insurance Company

• Williamsburg National Insurance Company

• Ameritrust Insurance Corporation

This press release relates to Credit Ratings that have been published on A.M. 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 A.M. 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 A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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A.M. Best

Edin Imsirovic, +1 908-439-2200, ext. 5740

Senior Financial Analyst

edin.imsirovic@ambest.com

or

Jacqalene Lentz, CPA, +1 908-439-2200, ext. 5762

Director

jacqalene.lentz@ambest.com

or

Christopher Sharkey, +1 908-439-2200, ext. 5159

Manager, Public Relations

christopher.sharkey@ambest.com

or

Jim Peavy, +1 908-439-2200, ext. 5644

Director, Public Relations

james.peavy@ambest.com

Source: A.M. Best