Best Affirms 'A-' of Atlantic Mutual, Neg Implicat

A.M. Best Co. has placed the financial strength rating of A- (Excellent) of the Atlantic Mutual Companies (The Atlantic) (New York) under review with negative implications. Concurrently, A.M. Best has placed the "bbb" debt rating of Atlantic Mutual Insurance Company's existing $100 million 8.15% surplus notes, due February 2028 under review with negative implications. This action reflects A.M. Best's heightened concerns regarding The Atlantic's capitalization and the quality of earnings and surplus, in view of its weak underwriting and operating performance and its use of reinsurance trans...