A.M. Best on Friday removed Majestic Insurance Co.'s financial strength rating from "under review" status and affirmed an A- (Excellent) rating for the California based carrier. "The rating reflects Majestic's improved risk-adjusted capitalization following the implementation of a capital re-allocation plan by its ultimate parent, CRM Holdings, as well as the execution of a quota share reinsurance arrangement with a third-party reinsurer," A.M. Best said in its announcement. "Furthermore, the issues that were faced by an affiliate, Compensation Risk Managers LLC, with the New York Work...
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