|[October 08, 2013]
A.M. Best Withdraws Ratings of Regis Insurance Company
OLDWICK, N.J. --(Business Wire)--
A.M. Best Co. has downgraded the financial strength rating to C+
(Marginal) from B- (Fair) and issuer credit rating to "b-" from "bb-" of Regis
Insurance Company (Regis) (Wayne, PA). The outlook for both ratings
is negative. Concurrently, A.M. Best has withdrawn the ratings as the
company has requested to no longer participate in A.M. Best's
interactive rating process.
The rating actions reflect Regis' 50% decline in policyholders' surplus
and substantial reduction in risk-adjusted capitalization during the
first half of 2013. Regis has decided to conclude its affairs and go
into voluntary run off. Regis is no longer writing new busness after
September 30, 2013 and will not write renewal business after November
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 www.ambest.com/ratings/methodology.
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
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