CHICAGO, Jan. 6 /CNW/ - Atlas Financial Holdings, Inc. ("Atlas" TSXV:
AFH) announced today that its shares began trading on the TSX Venture
Exchange under the symbol AFH.
As a result of the successful completion of the Atlas transaction, A.M.
Best Co. has upgraded the financial strength rating of Atlas' operating
subsidiaries American Country Insurance Company ("ACIC") and American
Service Insurance Company, Inc. ("ASI") to "B" from "B-". Both
companies are members of the American Service Pool. The outlook
assigned to all ratings is "stable" and no longer "under review with
"This is an important day, marking a new beginning for our
organization. Our operating subsidiaries have a long heritage in the
niche commercial automobile insurance market", said Scott D. Wollney,
President & CEO of Atlas. "We have an exceptional group of people,
agents and other business partners. Atlas' collective expertise,
strength and commitment will benefit the company's stakeholders".
A.M. Best also upgraded the issuer credit ratings ("ICR") of ACIC and
ASI to "bb from "bb-", and issued an ICR of "b-" to Atlas. The outlook
assigned to these ratings is also "stable".
Notice regarding forward-looking statements:
This release includes forward-looking statements regarding Atlas and its
subsidiaries and businesses. Such statements are based on the current
expectations of the management of each entity. The forward-looking
events and circumstances discussed in this release, including
acceptance of the transaction, may not occur and could differ
materially as a result of known and unknown risk factors and
uncertainties affecting the companies, including risks regarding the
insurance industry, economic factors and the equity markets generally.
No forward-looking statement can be guaranteed. Except as required by
applicable securities laws, forward-looking statements speak only as of
the date on which they are made and Atlas and its subsidiaries
undertake no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
The primary business of Atlas is commercial automobile insurance in the
United States, with a niche market orientation and focus on insurance
for the "light" commercial automobile sector including taxi cabs, non
emergency paratransit, limousine/livery and business auto. The
business of Atlas is carried on through its subsidiaries American
Country Insurance Company and American Service Insurance Company, Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Atlas Financial Holdings, Inc.
For further information:
Scott Wollney, Chief Executive Officer of Atlas Financial Holdings, Inc. at 847-700-8600.