Oldwick, N.J.-based insurance rating service A.M. Best Co. has downgraded Royal & Sun Alliance USA. and its affiliates, and removed them from rating at the company's request.
Best said it lowered the financial strength ratings to "C-plus (Marginal)" from "C-double-plus (Marginal)," and the issuer credit ratings to "b-minus" from "b" for the Royal & Sun Alliance USA Insurance Pool and its members, including the life insurance division.
On March 3, Royal & Sun Alliance USA's name was changed to Arrowpoint Capital Pool, based in Wilmington, Del., after a management buyout. The ratings were removed at the request of the new company.
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