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A.M. Best Removes from Under Review and Affirms Credit Ratings of 21st Century National Insurance Company

November 13, 2018

OLDWICK, N.J.--(BUSINESS WIRE)--Nov 13, 2018--A.M. Best has removed from under review with developing implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of 21st Century National Insurance Company (21st Century National) (headquartered in Boston, MA). The outlook assigned to these Credit Ratings (ratings) is stable.

This rating action follows the close of Plymouth Rock Assurance Corporation’s (PRAC) (Boston, MA) acquisition of 21st Century National in April 2018 and the successful execution of a quota share reinsurance agreement. The ratings of PRAC have been extended to 21st Century National, which will be renamed Plymouth Rock Assurance Preferred Corporation in December 2018, due to the significant level of reinsurance support provided by PRAC, the lead member of Plymouth Rock Assurance Group. The ratings of the other members of Plymouth Rock Assurance Group are not affected by the aforementioned rating action.

The ratings reflect 21st Century National’s balance sheet strength, which A.M. Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s web page. For additional information regarding the use and limitations of Credit Rating opinions, please view . For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view .

A.M. Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit for more information.

Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181113005909/en/

CONTACT: A.M. Best

Kenneth Tappen

Senior Financial Analyst

+1 908 439 2200, ext. 5248

kenneth.tappen@ambest.com

or

Richard Attanasio

Senior Director

+1 908 439 2200, ext. 5432

richard.attanasio@ambest.com

or

Christopher Sharkey

Manager, Public Relations

+1 908 439 2200, ext. 5159

christopher.sharkey@ambest.com

or

Jim Peavy

Director, Public Relations

+1 908 439 2200, ext. 5644

james.peavy@ambest.com

KEYWORD: UNITED STATES EUROPE NORTH AMERICA NEW JERSEY

INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE

SOURCE: A.M. Best

Copyright Business Wire 2018.

PUB: 11/13/2018 11:23 AM/DISC: 11/13/2018 11:23 AM

http://www.businesswire.com/news/home/20181113005909/en

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