A.M. Best Withdraws Credit Ratings of Great Lakes Casualty Insurance Company

OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best has withdrawn the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+”, each with a stable outlook, of Great Lakes Casualty Insurance Company (Great Lakes) (Grand Rapids, MI).

The rating withdrawals reflect the sale of Great Lakes by its ultimate parent company, Main Street America Group Mutual Holdings, Inc. (Main Street) to a subsidiary of Enstar Group Limited, which closed on Oct. 31, 2017. The sale has resulted in A.M. Best withdrawing the Credit Ratings (ratings) of Great Lakes. A.M. Best’s policy is for a final rating to be completed along with a rating withdrawal. However, a final rating was not able to be completed, as the final closing of the transaction occurred prior to notice to A.M. Best.

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 © 2017 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.

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A.M. Best

Raymond Thomson, CPCU, ARe, ARM

+1 908 439 2200, ext. 5621

Associate Director

[email protected]

or

Michael Martin, +1 908 439 2200, ext. 5893

Financial Analyst

[email protected]

or

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

Manager, Public Relations

[email protected]

or

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

Director, Public Relations

[email protected]

Source: A.M. Best