OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. has withdrawn the financial strength ratings (FSR) of A+ (Superior) and the issuer credit ratings (ICR) of “aa-” of ACE American Lloyds Insurance Company (Texas) and ACE Insurance Company of Ohio (Ohio). These companies were wholly owned indirect property/casualty subsidiaries of ACE Limited (ACE) (Bermuda) [NYSE:ACE].
Effective December 31, 2006, ACE American Lloyds Insurance Company and ACE Insurance Company of Ohio merged into ACE American Insurance Company (ACE American) (Pennsylvania). These mergers were completed as part of an initiative to streamline the legal structure of ACE’s U.S. property/casualty operations.
The FSRs of A+ (Superior) and ICRs of “aa-” of ACE American and ACE American Pool, of which ACE American is the lead company, are unchanged by these two mergers.
For Best’s Ratings, an overview of the rating process and rating methodologies, please visitwww.ambest.com/ratings.
Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors. For more information, visitwww.ambest.com.
A.M. Best Company
Joyce Sharaf, 908-439-2200, ext. 5046
Andrew Colannino, 908-439-2200, ext. 5706
Jim Peavy, 908-439-2200, ext. 5644
Rachelle Morrow, 908-439-2200, ext. 5378