AM Best takes rating action following Accredited acquisition
AM Best has removed from under review with developing implications and affirmed the Financial Strength Ratings of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Accredited.
The rating actions follow the completed acquisition of Accredited by funds managed by Onex Partners from R&Q Investment Holdings at the end of June.
The change relates to the entities Accredited Specialty Insurance Company, Accredited Surety and Casualty Company and Accredited Insurance (Europe). The outlooks assigned to these credit ratings are stable.
AM Best added the ratings reflected Accredited’s “balance sheet strength”, which it assesses as “very strong”, as well as its “adequate operating
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