Alleghany's Underwriters Re Assigned Best Rating
NU Online News Service, July 3, 3:50 p.m. EDT? Insurance rater A.M. Best has assigned an "A" (Excellent) financial strength rating to Underwriters Reinsurance Company, a business that was recently acquired by Alleghany Corporation to help support future businesses of Alleghany's newly purchased Royal Specialty Underwriting Inc.
Alleghany's previously announced $115 million deal to purchase Royal Specialty Underwriting--along with a managing underwriting agency, renewal rights to the ongoing business underwritten by Royal Specialty Underwriting, and the related unearned premium reserve portfolio--was completed this week.
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