American Financial, AXA and 12 Others Receive Ratings Updates
Ratings Corner, January 13, 2014
A.M. Best has maintained the under review status on the financial strength rating (FSR) of B (Fair) and issuer credit ratings (ICR) of bb of the pooled and reinsured members of the Tower US Pool; the ICR of b- and the debt rating of b- on $145.4 million, 5 percent senior convertible notes, due 2014, of the intermediate holding company, Tower Group Inc.; the FSR of B (Fair) and ICR of bb of CastlePoint Reinsurance Co. Ltd.; and the ICR of b- of the ultimate parent, Tower Group International Ltd. (Tower). The implications have been revised to developing from negative for all of these ratings.
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