A.M. Best withdraws ratings of PacWest Captive Insurance Co.
A.M. Best Co. has revised the outlook to stable from positive and affirmed the financial strength rating of B++ (Good) and issuer credit rating of "bbb+" of PacWest Captive Insurance Company, Inc. (PacWest) (Scottsdale, AZ). Concurrently, A.M. Best has withdrawn the ratings at the company's request, following management's decision to stop participating in any risk bearing business, beginning with the July 1, 2011 program renewal.
The rating affirmations reflect PacWest's excellent capitalization, strong profitability and management's prudent loss reserving standards.
