A.M. Best Comments on the Planned Acquisition of Haulers Insurance Company by Shelter Mutual

2008-05-09 22:24:09 -

www.ambest.com - A.M. Best Co. has commented that the financial strength rating (FSR) of A (Excellent) and issuer credit rating (ICR) of "a" of Haulers Insurance Company Inc. (Haulers) (Columbia, TN) are unchanged following the recent announcement that it has agreed to be acquired by Shelter Mutual Insurance Company (Shelter) (Columbia, MO). Shelter's FSR of A (Excellent) and ICR of "a+" also are unchanged.

The all cash transaction is anticipated to close by the end of second quarter 2008 pending regulatory approval. In the near term, Shelter has no plans to change the current operating structure or management of Haulers. As such, A.M. Best does not expect any significant change in Haulers' favorable operating results and risk-adjusted capitalization. Haulers brings a robust distribution network to the Shelter family. Furthermore, Shelter's significant capital resources and market depth will provide additional financial flexibility and greater product diversification to Haulers going forward.

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:
Maurice Thomas, 908-439-2200, ext 5794
maurice.thomas@ambest.com
Neil DasGupta, 908-439-2200, ext. 5206
neil.dasgupta@ambest.com
or
Public Relations:
Jim Peavy, 908-439-2200, ext. 5644
james.peavy@ambest.com
Rachelle Morrow, 908-439-2200, ext. 5378
rachelle.morrow@ambest.com