A.M. Best Withdraws Ratings of Fairfield Insurance Company Due to Merger Business Wire OLDWICK, N.J. -- January 15, 2013 A.M. Best Co. has withdrawn the financial strength rating of A (Excellent) and issuer credit rating of “a” of Fairfield Insurance Company following the merger into its affiliate company, Genesis Insurance Company (GIC) on December 31, 2012. The ratings of GIC are not affected by this transaction. The merger is part of immediate parent company General Reinsurance Corporation’s (Gen Re) strategy of business simplification and to achieve increased efficiencies. Gen Re’s ultimate parent company is Berkshire Hathaway Inc. (Omaha, NE). All companies are headquartered in Stanford, CT, except where specified. The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Key criteria utilized include: “Risk Management and the Rating Process for Insurance Companies.” Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology. Founded in 1899, A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com. Copyright © 2013 by A.M. Best Company, Inc. ALL RIGHTS RESERVED. Contact: A.M. Best Co. Peter Dickey, 908-439-2200, ext. 5053 Assistant Vice President email@example.com or John Andre, 908-439-2200, ext. 5619 Group Vice President firstname.lastname@example.org or Rachelle Morrow, 908-439-2200, ext. 5378 Senior Manager, Public Relations email@example.com or Jim Peavy, 908-439-2200, ext. 5644 Assistant Vice President, Public Relations firstname.lastname@example.org
A.M. Best Withdraws Ratings of Fairfield Insurance Company Due to Merger
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