Meadowbrook Pleased With A.M. Best Decision
Meadowbrook Insurance Group, Inc. — which operates an underwriting company in Bermuda — says it is “pleased” with ratings agency A.M. Best’s decision to remove the under review status and affirm the “A-” [excellent] financial strength rating for the Michigan-based firm and its subsidiaries.
Robert S. Cubbin, Meadowbrook President and Chief Executive Officer, commented: “We are pleased with A.M. Best’s decision to remove the under review status and the affirmation of our ‘A-’ [excellent] financial strength rating.
“We believe the actions we have taken over the last six months position us to return to profitability and strengthened our current capital position. We continue to achieve rate increases in excess of loss ratio trends across our core business. The termination of unprofitable business is progressing as expected. We remain focused on meeting our annual guidance, producing an underwriting profit and generating an appropriate return on equity in the intermediate term.”
