AM Best has removed from under review with developing implications and affirmed the Financial Strength Ratings of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Accredited Specialty Insurance Company (Gilbert, AZ), Accredited Surety and Casualty Company, Inc. (Orlando, FL) and Accredited Insurance (Europe) Limited (Malta), collectively known as Accredited.

The decision on ratings comes after Accredited was acquired by funds managed by Onex Partners from R&Q Investment Holdings in June.

Announcing its decision, AM Best stated: “Accredited will now operate as an independent program management company providing insurance capacity in Europe, the United Kingdom and the United States.

“Accredited provides underwriting capacity to large managing general agents, connecting those entities with global reinsurance capital in exchange for a recurring fee. Onex confirmed that Accredited’s business strategy remains unchanged following the completed acquisition.”