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A.M. Best Withdraws Ratings of Victore Insurance Company Due to Merger

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  Published in Business and Finance on Friday, September 30th 2011 at 13:07 GMT by Market Wire
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OLDWICK, N.J.--([ BUSINESS WIRE ])--A.M. Best Co. has withdrawn the financial strength rating of B++ (Good)) and issuer credit rating of abbba of Victore Insurance Company (Victore) following the merger of Victore into American Safety Casualty Insurance Company effective August 2, 2011. Both companies are domiciled in Oklahoma City, OK.

"A.M. Besta™s Rating Methodology for Captive Insurance Companies."

American Safety Casualty Insurance Company is a subsidiary of American Safety Insurance Holdings Ltd. (NYSE: ASI).

A.M. Best remains the leading rating agency of captive insurers rating a wide variety of more than 200 captives in the United States and throughout the world.

For current Besta™s Credit ratings and independent data on the captive and alternative insurance market, please visit [ www.ambest.com/captive ].

The principal methodology used in determining these ratings is [ Besta™s Credit Rating Methodology -- Global Life and Non-Life Insurance Edition ], which provides a comprehensive explanation of A.M. Besta™s rating process and highlights the different rating criteria employed. Additional key criteria utilized include: aA.M. Besta™s Rating Methodology for Captive Insurance Companies.a Methodologies can be found at [ www.ambest.com/ratings/methodology ].

Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit [ www.ambest.com ].

Copyright © 2011 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.