AM Best withdrew from the review due to growing influence and confirmed the credit rating of an independent American insurance company – QNT Press Release

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Best morning Has been removed from the review with developmental impact, and confirmed the A- (excellent) Financial Strength Rating (FSR) and the “a-” (Excellent) Long-Term Issuer Credit Rating (Long-Term ICR) (IAIC) of the independent American insurance company ) (Wilmington, DE). The outlook assigned to the credit rating (rating) is stable.

These ratings reflect the strength of IAIC’s balance sheet, which AM Best believes is very strong, as well as its sufficient operating performance, limited business profile and appropriate corporate risk management. The rating also takes into account the upgrade of its ultimate parent company, JAB Holding Company s.á.rl (JAB Holding).

IAIC, formerly part of an independent holding company, signed a definitive agreement with JAB Holdings, which acquired a 70% controlling stake in the pet insurance business and the stock of an independent American holding company, including its subsidiary IAIC, which is an independent holding company in Pet Partners , Inc. and other related pet assets. As part of the transaction, the independent holding company received US$276 million in cash and a 30% interest in an independent pet holding company, formerly known as JAB holding subsidiary Iguana Capital Inc. (intermediate holding company). JAB Holding invests in high-end consumer brands and industries, including pet business, and owns one of the largest pet hospital businesses in the United StatesNational Veterinary AssociationProvide IAIC with synergy and growth potential. ultimate…

The full story can be found on Benzinga.com

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