Best Affirms, Withdraws Rating of Rutland Insurance Limited

A.M. Best Co. has affirmed the financial strength rating of “B++” (Very Good) and the issuer credit rating of “bbb” (ICR) of Guernsey based captive insurer Rutland Insurance Limited with a stable outlook.

Subsequently, Best said it has “withdrawn both ratings and assigned an “NR-3″ (Rating procedure inapplicable) following the decision to put the company in run-off due to the disposal of Morrison Construction Services Limited—an affiliate company and Rutland’s sole source of premium income—by Anglian Water Group plc (AWG), the ultimate parent.”