A.M. Best Withdraws Ratings of Medmarc Insurance Company Due to Legal Merger
OLDWICK, N.J. -- April 5, 2013
A.M. Best Co. has withdrawn the financial strength rating of A- (Excellent)
and issuer credit rating of “a-” of Medmarc Insurance Company (Medmarc) due to
its merger into Medmarc Casualty Insurance Company (Medmarc Casualty), an
affiliated company. ProAssurance Corporation (PRA) (Birmingham, AL) (NYSE:
PRA) acquired Medmarc and Medmarc Casualty effective January 1, 2013, and both
companies are domiciled in Montpelier, VT.
At the time of the merger all of the assets and liabilities of Medmarc were
merged into Medmarc Casualty. The ratings of PRA and Medmarc Casualty are
unaffected by this transaction.
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. Best’s Credit Rating Methodology can be found at
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.
A.M. Best Co.
Robert Raber, 908-439-2200, ext. 5696
Henry Witmer, 908-439-2200, ext. 5097
Assistant Vice President
Rachelle Morrow, 908-439-2200, ext. 5378
Senior Manager, Public Relations
Jim Peavy, 908-439-2200, ext. 5644
Assistant Vice President, Public Relations
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