A.M. Best Downgrades Ratings of PMA Capital Insurance Company
As per the Press Release, released on December 05, 2008 by A.M. Best, a leading provider of ratings, news and financial data for the insurance industry had downgraded ratings of PMA Capital Insurance Company. The ratings remain under review with negative implications.
The PMA Capital Insurance Company (PMACIC) (Philadelphia, PA), the run-off operations of PMA Capital Corporation (PMA Capital) headquartered in Blue Bell, Pennsylvania is a publicly traded company whose shares are traded under the ticker symbol PMACA on The NASDAQ Stock Market.
The PMA Capital and its specialty risk management business include
- PMA Insurance Group - Is a premier insurance organization specializing in workers’ compensation and offering complementary property and casualty insurance products — commercial general liability, commercial property, commercial multi-peril, commercial automobile, inland marine and umbrella.
- PMA Management Corp. (PMAMC) - Is a leading high quality provider of results-driven Third Party Administrator and specializes in workers’ compensation and also offers claims and risk control services for commercial auto, liability and property.
- PMA Management Crop. of New England - Is affiliate of PMA Management Corp. and provider of risk management and workers’ compensation fee-based services in New England.
A.M. Best Co. has downgraded the PMA Capital Insurance Company financial strength rating (FSR) to C++ (Marginal) from B (Fair) and issuer credit rating (ICR) to “b” from “bb”.
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