Moody's Investors Service today became the third ratings firm to further downgrade the financial strength rating of Atlantic Mutual Insurance Company.
Moody's in New York said it is withdrawing the Madison, N.J.-based company's ratings after adverse developments, including inability to pay interest on surplus notes.
A.M. Best Company and Standard and Poor's Rating Service earlier this month downgraded the firm, and Best said the carrier asked to be unrated after it gave the company a negative outlook.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
