AmTrust Downgraded by A.M. Best to A- from A
After shareholders recently approved a deal worth almost $3B that would make the company a private entity, AmTrust Group members have been downgraded by A.M. Best. The insurer’s financial strength rating has been downgraded to A- (Excellent) from A. Its long-term issuer credit dipped to “a-” from “a”. The insurer’s ratings had been under review with negative implications.
Best has said that, "The deterioration in underwriting results and increased variability of performance in recent years contributed to the downgrade of the ratings."