Friday, July 17, 2009

A.M. Best Withdraws Ratings of Old Republic General Title Insurance Corporation Due to Merger

A.M. Best Co. has withdrawn the financial strength rating (FSR) of A (Excellent) and issuer credit rating (ICR) of “a+” and assigned an NR-5 (Not Formally Followed) to the FSR and an “nr” to the ICR of Old Republic General Title Insurance Corporation (Old Republic General), a former affiliate of Old Republic National Title Insurance Company (ORNTIC) (Minneapolis, MN).

Effective second quarter of 2009, Old Republic General was merged into ORNTIC, which is a member of the Old Republic Title Insurance Group (Minneapolis, MN).

The Old Republic Title Insurance Group and its members have an FSR of A (Excellent) and ICRs of “a+”, and the ratings are unchanged. The outlook for the FSR is stable, while the outlook for the ICRs is negative.

The FSR and ICRs above apply to Old Republic Title Insurance Group and its following members:

  • American Guaranty Title Insurance Company
  • Mississippi Valley Title Insurance Company
  • Old Republic National Title Insurance Company

For Best’s Credit Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.

The principal methodologies used in determining these ratings, including any additional methodologies and factors that may have been considered, can be found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.