Steven Wevodau - Property & Casualty Insurance

OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best Co. notes the recent merger of Woodbrook Casualty Insurance, Inc. (Woodbrook) with and into its former affiliate, The Medical Assurance Company, Inc. (Medical Assurance), with Medical Assurance being the surviving insurer. Accordingly, A.M. Best has withdrawn the financial strength rating (FSR) of B (Fair) and issuer credit rating (ICR) of “bb+” and assigned a category NR-5 (Not Formally Followed) to the FSR and an “nr” to the ICR of Woodbrook.Concurrently, Medical Assurance’s name was changed to ProAssurance Indemnity Company, Inc. (ProAssurance Indemnity), and its ratings are unaffected by this merger. All of the above companies are insurance subsidiaries of ProAssurance Corporation [NYSE: PRA] and are located in Birmingham, AL.

For Best’s Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.

 

 

 

A.M. Best Company
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