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A.M. Best Withdraws Arrowpoint Capital Ratings at Company's Request
At the request of Arrowpoint Capital Corp., A.M. Best Co. has withdrawn the financial strength ratings for the insurance company’s three risk-bearing entities: Royal Indemnity Company, Royal Surplus Lines Insurance Company and Security Insurance Company of Hartford.
The request was first made in early 2006 as part of the company’s ongoing restructuring of operations and follows previously announced ratings withdrawals by Standard & Poor’s Ratings Services and Moody’s Investors Service.
The request reflects the fact that, since 2003, Arrowpoint Capital has not required financial strength ratings, which are used to support new business writing. The move also eliminates the expense related to the rating service.