A.M. Best Affirms and Withdraws Ratings of New Technology Insurance

• Press Release
• Source: A.M. Best Company
• On 9:16 am EST, Friday November 6, 2009

OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. has affirmed the financial strength rating (FSR) of “A-” (Excellent) and the issuer credit rating (ICR) of “a-” of New Technology Insurance (NTI) (Ireland). The outlook for both ratings is stable. Concurrently, A.M. Best has withdrawn the ratings at the company’s request and assigned a category “NR-4” to the FSR and “nr” to the ICR. The rating actions reflect the decisions of NTI’s management to withdraw from A.M. Best’s interactive rating process following a change of focus towards more intra-group business.

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.

A.M. Best Company
Analysts
Timothy Prince, +(44) 20 7626 6264
timothy.prince@ambest.com
or
Mahesh Mistry, +(44) 20 7626 6264
mahesh.mistry@ambest.com
or
Public Relations
Jim Peavy, +(1) 908 439 2200, ext. 5644
james.peavy@ambest.com
or
Rachelle Morrow, +(1) 908 439 2200, ext. 5378
rachelle.morrow@ambest.com