Following A.M. Best's
announcement that it has downgraded the Company's property-casualty
subsidiaries' rating from "B+" to "B", Vesta Insurance Group (NYSE: VTA)
announced yesterday that it is evaluating a possible divestiture of a portion of
its property-casualty business to maximize shareholder value and strengthen
its statutory capital position.
"We are disappointed with A.M. Best's decision, and we do not believe that
the rating fully reflects our continued improvement in operating trends, and
the profitability of our continuing operations," said Norman W. Gayle, III,
Preside...
Related Articles
Comments