AM Best Withdraws Credit Ratings of Rockingham Insurance Company and Its Affiliates
May 08 2024 - 5:45PM
Business Wire
AM Best has affirmed the Financial Strength Rating (FSR)
of B++ (Good) and the Long-Term Issuer Credit Ratings (Long-Term
ICR) “bbb+” (Good) of Rockingham Insurance Company and its pooled
affiliates: Rockingham Casualty Company and Rockingham Specialty,
Inc. The outlook of the FSR is stable while the outlook of the
Long-Term ICR is negative. All companies are domiciled in
Harrisonburg, VA, and collectively are referred to as Rockingham
Group. Concurrently, AM Best has withdrawn these Credit Ratings
(ratings) as the company has requested to no longer participate in
AM Best’s interactive rating process. This serves as AM Best’s
final rating update.
These ratings reflect Rockingham Group’s balance sheet strength,
which AM Best assesses as strong, as well as its marginal operating
performance, neutral business profile and appropriate enterprise
risk management.
This press release relates to Credit Ratings that have been
published on AM Best’s website. For all rating information relating
to the release and pertinent disclosures, including details of the
office responsible for issuing each of the individual ratings
referenced in this release, please see AM Best’s Recent
Rating Activity web page. For additional information
regarding the use and limitations of Credit Rating opinions, please
view Guide to Best's Credit Ratings. For information
on the proper use of Best’s Credit Ratings, Best’s Performance
Assessments, Best’s Preliminary Credit Assessments and AM Best
press releases, please view Guide to Proper Use of Best’s
Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and
data analytics provider specializing in the insurance industry.
Headquartered in the United States, the company does business in
over 100 countries with regional offices in London, Amsterdam,
Dubai, Hong Kong, Singapore and Mexico City. For more information,
visit www.ambest.com.
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Maurice Thomas Senior Financial Analyst +1 908 882
2392 maurice.thomas@ambest.com
Christopher Sharkey Associate Director, Public
Relations +1 908 882 2310
christopher.sharkey@ambest.com
Richard Attanasio Senior Director +1 908 882
1638 rich.attanasio@ambest.com
Al Slavin Senior Public Relations Specialist +1
908 882 2318 al.slavin@ambest.com