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AM Finest Feedback on Credit score Scores of Constellation Insurance coverage Group’s Members


Finest’s Information & Analysis Service – March 25, 2022 04:52 PM (EDT)

  • March 25, 2022 04:52 PM (EDT)

Oldwick //BestWire// – AM Finest has commented that the Monetary Power Ranking of A (Wonderful) and the Lengthy-Time period Issuer Credit score Scores (Lengthy-Time period ICR) of “a” (Wonderful) of the members of Constellation Insurance coverage Group (Constellation) (Minneapolis, MN) will stay unchanged following the announcement of the pending acquisition of Michigan Skilled Insurance coverage Trade (MPIE) and all subsidiaries. The outlook of those Credit score Scores (rankings) is secure.

MMIC Insurance coverage, Inc. intends to imagine MPIE’s historic loss reserves by a loss portfolio switch and can enter right into a Quota Share and Renewal Rights Settlement with MPIE’s future enterprise. As well as, Constellation will buy the belongings of MPIE and membership pursuits of its subsidiary corporations. This transaction will increase Constellation’s enterprise within the Michigan and Ohio markets. Following the shut of the transaction, AM Finest will proceed to debate its progress with administration and assess its results on Constellation’s operations. The transaction is anticipated to shut mid-2022.

This press launch pertains to Credit score Scores which have been revealed on AM Finest’s web site. For all ranking info regarding the discharge and pertinent disclosures, together with particulars of the workplace liable for issuing every of the person rankings referenced on this launch, please see AM Finest’s Latest Ranking Exercise net web page. For extra info concerning the use and limitations of Credit score Ranking opinions, please view Information to Finest’s Credit score Scores. For info on the correct use of Finest’s Credit score Scores, Finest’s Efficiency Assessments, Finest’s Preliminary Credit score Assessments and AM Finest press releases, please view Information to Correct Use of Finest’s Scores & Assessments.

AM Finest is a world credit standing company, information writer and information analytics supplier specializing within the insurance coverage business. Headquartered in the USA, the corporate does enterprise in over 100 nations with regional workplaces in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico Metropolis.

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