AM Best Places Credit Ratings of CM Select Insurance Company Under Review With Negative Implications
AM Best has placed under review with negative implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) of CM Select Insurance Company (CM Select) (Merrill, WI).
- AM Best has placed under review with negative implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) of CM Select Insurance Company (CM Select) (Merrill, WI).
- The actions on these Credit Ratings (ratings) follow the recent disclosure that Church Mutual Holding Company, Inc., entered into a definitive stock purchase agreement to sell its ownership of CM Select to MGT Partners, LLC.
- As a part of the transaction, CM Select will enter into an amended and restated reinsurance agreement to the existing reinsurance agreement with Church Mutual Insurance Company, S.I.
- For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .