AM Best withdraws AMIC and Citadel Re ratings after unsuccessful capital raise
AM Best has downgraded and then withdrawn the ratings of New Jersey-based American Millennium Insurance Company and its Bermuda-based parent Citadel Reinsurance Company after management’s planned capital raise was not successful and the Bermuda regulator ordered Citadel Re to stop writing business.
If you are a subscriber, please sign back in to read this article
If you are not currently a subscriber please see contact details below