A.M. Best Places Credit Ratings of MAPFRE Insurance Company of New York Under Review With Negative Implications

OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of MAPFRE Insurance Company of New York (MAPFRE NY) (Garden City, NY). The Credit Rating (rating) action follows the announcement on June 14, 2018, by MAPFRE U.S.A. Corp., the parent company of MAPFRE NY, that MAPFRE NY will be acquired by Plymouth Rock Assurance Corporation (Plymouth Rock). The ratings will rem