AM Best Comments on Credit Ratings of Alleghany Corporation and Affiliates Following Announced Acquisition by Berkshire Hathaway Inc.
AM Best has commented that the Credit Ratings (ratings) of
Berkshire and Alleghany jointly announced on
Assuming that the acquisition is completed as currently contemplated, AM Best does not expect the transaction’s execution to result in any immediate changes to Alleghany’s credit ratings. Over time, as AM Best learns more about Berkshire’s plans for supporting the acquired entities, it is possible that the ratings of Alleghany and its various affiliates could benefit from the vast financial resources and financial flexibility that Berkshire possesses.
The Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior), with stable outlooks, remain unchanged for
-
TransRe Europe S.A. -
TransRe London Limited -
Fair American Insurance and Reinsurance Company -
Fair
American Select Insurance Company -
Calpe Insurance Company Limited
The FSR of A+ (Superior) and the Long-Term ICRs of “aa-” (Superior), with stable outlooks, remain unchanged for
-
RSUI Indemnity Company -
Landmark American Insurance Company -
Covington Specialty Insurance Company
The FSR of A (Excellent) and the Long-Term ICRs of “a” (Excellent), with the outlook of the FSR stable and the Long-Term ICR outlook positive, remain unchanged for
-
Platte River Insurance Company -
Capitol Specialty Insurance Corporation
The following Long-Term Issue Credit Ratings are unchanged with stable outlooks:
-- “a-” (Excellent) on
-- “a-” (Excellent) on
Transatlantic Holdings Inc.—
-- “a-” (Excellent) on
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 Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
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Copyright © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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