Market Overview

A.M. Best Withdraws Credit Ratings of National Building Material Assurance Company


A.M. Best has withdrawn the Financial Strength Rating of A-
(Excellent) and the Long-Term Issuer Credit Rating of "a-" of National
Building Material Assurance Company
(NBMA) (Indianapolis, IN).

Clear Blue Specialty Insurance Company completed the acquisition
of NBMA on July 23, 2018. Concurrent with the sale, the inter-company
pooling agreement between NBMA and its two former affiliates, Pennsylvania
Lumbermens Mutual Insurance Company
and Indiana Lumbermens Mutual
Insurance Company
, collectively known as Pennsylvania Lumbermens
, was revised effective April 30, 2018, making NBMA a clean
shell at the time of sale. The sale of NBMA has resulted in A.M. Best
withdrawing the Credit Ratings (ratings) of this entity. A.M. Best's
policy is for a final rating to be completed along with a rating
withdrawal. However, a final rating update was not able to be completed,
as NBMA was a clean shell at the close of the transaction.

This press release relates to Credit Ratings that have been published
on A.M. Best's website. For all rating information relating to the
release and pertinent disclosures, including details of the office
responsible for issuing each of the individual ratings referenced in
this release, please see A.M. Best's
Rating Activity
web page. For additional information
regarding the use and limitations of Credit Rating opinions, please view
Best's Credit Ratings
. For information on the proper media
use of Best's Credit Ratings and A.M. Best press releases, please view
for Media - Proper Use of Best's Credit Ratings and A.M. Best Rating
Action Press Releases

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