Moody's confirms Atlantic Mutual

Moody's Investors Service said it confirmed the debt and financial strength ratings of Atlantic Mutual Insurance Cos., including the Baa3 insurance financial strength rating and the B1 rating for the company's surplus notes.

This action concludes a review that was initiated on Dec. 8, following the company's announcement that it had entered into a transaction to sell select portions of its commercial lines insurance inforce portfolio to OneBeacon Insurance Co. The transaction has received the required regulatory approvals, and closed on March 31.

Following this rating action, the outlook for the debt and financial strength ratings of Atlantic Mutual and its retained subsidiaries is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.