AM Best has withdrawn the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of "aa-"of Catlin Indemnity Company (CIC) (Stamford, CT), following the Nov. 23, 2020, acquisition of CIC by Root, Inc. and Root Stockholdings, Inc. from its former parent, XL Bermuda Ltd. No final rating action was taken due to CIC effectively being sold as a shell.
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Dan Hofmeister, CFA, CAIA, CPCU, ARe
Senior Financial Analyst
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Manager, Public Relations
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