2008-06-04 23:50:27 -
www.ambest.com - A.M. Best Co. has affirmed the financial strength rating (FSR) of A- (Excellent) and issuer credit ratings (ICR) of "a-" of Meadowbrook Insurance Group (Meadowbrook) and its members. Additionally, A.M. Best has affirmed the ICR of "bbb-" of Meadowbrook's publicly-traded parent company, Meadowbrook Insurance Group, Inc. (MIGI) (Southfield, MI) (NYSE: MIG). The outlook for all ratings is stable. (Please see below for a detailed listing of the companies and ratings.)
The ratings reflect Meadowbrook's continued, favorable underwriting and operating performance, solid capitalization and management's expertise in the alternative risk market. Meadowbrook's ratings recognize its significant improvement in earnings during the past four years, which has steadily improved capitalization.
MIGI is a full service risk management organization,
which focuses on niche or specialty program business and risk management solutions for agents, brokers, professional trade associations, pools, trusts and small to medium-sized businesses. The company offers solutions on a managed basis, a risk sharing basis or a fully insured basis in response to specific market opportunities.
The FSR of A- (Excellent) and ICRs of "a-" have been affirmed for Meadowbrook Insurance Group and its following members:
-- Ameritrust Insurance Corporation
-- Star Insurance Company
-- Savers Property and Casualty Insurance Company
-- Williamsburg National Insurance Company
The ICR of "bbb-" has been affirmed for Meadowbrook Insurance Group, Inc.
For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.
Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.
A.M. Best Co.
Analysts
David S. Blades, CPCU, 908-439-2200, ext. 5422
david.blades@ambest.com
or
Joseph Roethel, 908-439-2200, ext. 5630
joseph.roethel@ambest.com
or
Public Relations
Jim Peavy, 908-439-2200, ext. 5644
james.peavy@ambest.com
or
Rachelle Morrow, 908-439-2200, ext. 5378
rachelle.morrow@ambest.com