OLDWICK, N.J.--(BUSINESS WIRE)--
A.M. Best Co. notes the recent merger of Woodbrook Casualty
Insurance, Inc. (Woodbrook) with and into its former affiliate, The
Medical Assurance Company, Inc. (Medical Assurance), with Medical
Assurance being the surviving insurer. Accordingly, A.M. Best has
withdrawn the financial strength rating (FSR) of B (Fair) and issuer
credit rating (ICR) of "bb+" and assigned a category NR-5 (Not Formally
Followed) to the FSR and an "nr" to the ICR of Woodbrook.
Concurrently, Medical Assurance's name was changed to ProAssurance
Indemnity Company, Inc. (ProAssurance Indemnity), and its ratings
are unaffected by this merger. All of the above companies are insurance
subsidiaries of ProAssurance Corporation [NYSE: PRA] and are
located in Birmingham, AL.
For Best's Ratings, an overview of the rating process and rating
methodologies, please visit www.ambest.com/ratings.
Founded in 1899, A.M. Best Company is a global full-service credit
rating organization dedicated to serving the financial and health care
service industries, including insurance companies, banks, hospitals and
health care system providers. For more information, visit www.ambest.com.
Source: A.M. Best Co.
Contact: A.M. Best Company
Analysts
Greg Williams, 908-439-2200, ext. 5815
greg.williams@ambest.com
or
Henry Witmer, 908-439-2200, ext. 5097
henry.witmer@ambest.com
or
Public Relations
Jim Peavy, 908-439-2200, ext. 5644
james.peavy@ambest.com
or
Rachelle Morrow, 908-439-2200, ext. 5378
rachelle.morrow@ambest.com