Heritage Indemnity Retains 'A' Rating, A.M. Best Reports
Heritage Indemnity Company has retained its financial strength rating and issuer credit rating of “A” following the recent announcement of its agreement with AmTrust Financial Services, according to A.M Best.
OLDWICK, N.J. — Heritage Indemnity Company has retained its financial strength rating and issuer credit rating of “A” (Excellent) following the recent announcement of its agreement with AmTrust Financial Services, according to A.M Best.
AmTrust has entered into a definitive agreement to acquire Warranty Solutions, a Wells Fargo business, for $152 million in cash. Warranty Solutions, which includes HICO, designs and markets, administers, and underwrites vehicle service contracts for new and used automobiles through a national network of independent agents and franchised and independent dealers.
Pending regulatory approval, the parties anticipate the closing will occur in the third quarter of 2015. The ratings for Heritage Indemnity reflect the company’s solid risk-adjusted capitalization, consistently favorable results and geographic diversification, officials said.
The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process.
More Auto Finance

Top Five Credit Application Fraud Flags
Compliance audits regularly reveal bad habits that can lead to fraud charges and should have been stamped out decades ago.
Read More →
More Auto Loans for the Taking in August
Riskier categories were on the uptick for the month as lenders loosened access in several areas while balancing out the exposure in another, Cox Automotive reported.
Read More →
July Was Hot for Auto Borrowers
Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
Read More →
Dealer Lender Preferences Revealed
When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.
Read More →
Auto Refi Savings Surge
Consumers with 84-month auto loan terms who refinanced saved the most on monthly payments, according to a new report by auto refinancing provider Caribou.
Read More →
Subaru Enters Lending Business
The automaker follows other brands in adding captive financing in the U.S., and says the move will strengthen its position here.
Read More →
Positive Equity Reaches Record High
Mainstream vehicle owners who bought a car seven years ago are likely to have positive equity when trading in for a new vehicle, according to second-quarter Edmunds data.
Read More →
Dealerships Are Paying the Price for Extended Car Loans
Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
Read More →
Trade-Ins in Negative Equity Reach New Heights
As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.
Read More →
Auto Credit Plentiful
June numbers show lenders are readily granting access, including to risky borrowers, as consumers leverage themselves to take on high prices.
Read More →