Best Places Atlantic Mutual Under Review
NU Online News Service, June 10, 9:52 a.m.EDT?A.M. Best Co. said it placed the "A-Minus" financialstrength rating of Atlantic Mutual Companies under review withnegative implications, prompted by the company's "weak underwritingand operating performance" as well as its use of reinsurancetransactions to bolster surplus.
The Oldwick, N.J.-based rating firm also added that it placedthe "Triple-b" debt rating of Atlantic Mutual's existing $100million 8.15 percent surplus notes, due 2028, under review withnegative implications.
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