OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. has downgraded the financial strength rating to E (Under Regulatory Supervision) from C++ (Marginal) and issuer credit rating to “rs” from “b” of AequiCap Insurance Company (Fort Lauderdale, FL).
On February 28, 2011, The State of Florida issued a consent order of rehabilitation of AequiCap Insurance Company.
The principal methodology used in determining these ratings is Best’s Credit Rating Methodology -- Global Life and Non-Life Insurance Edition, which provides a comprehensive explanation of A.M. Best’s rating process and highlights the different rating criteria employed. Methodologies can be found at www.ambest.com/ratings/methodology.
Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
Copyright © 2011 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.