A.M. Best has placed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of T.H.E. Insurance Company (T.H.E.) (New Orleans, LA) under review with positive implications. This follows the announcement that the company, through its holding company, Allied International Holdings, Inc., has reached a definitive agreement to be acquired by XL Group plc (NYSE: XL). The acquisition will be made by its indirect wholly owned subsidiary XL America Inc.

T.H.E. provides property and casualty insurance coverage for the amusement and entertainment industry; its focus has been on carnivals, concessionaires, amusement parks, water parks, fairs, festivals and fireworks events. The expected outcome of the acquisition is for XL to provide T.H.E. further financial and operational support with its plans for growth in this specialty market.

The transaction is expected to close no later than the first quarter of 2016, following the receipt of anti-trust and regulatory approvals and the satisfaction of customary closing conditions.

Negative rating action could occur if operating performance falls short of A.M. Best’s expectations, including a failure to improve underwriting results or if there is significant deterioration in risk-adjusted capitalization. Positive rating action could occur if the underwriting results continue to surpass expectations, profitability measures increase, risk-adjusted capitalization continues to improve or if significant financial and operational benefits are obtained through the planned acquisition.

This press release relates to rating(s) that have been published on A.M. Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please visit A.M. Best’s Ratings & Criteria Center.

A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2015 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

A.M. Best Co.Henry WitmerAssistant Vice President(908) 439-2200, ext. 5097henry.witmer@ambest.comorAndrew ColanninoVice President(908) 439-2200, ext. 5706andrew.colannino@ambest.comorChristopher SharkeyManager, Public Relations(908) 439-2200, ext. 5159christopher.sharkey@ambest.comorJim PeavyAssistant Vice President, Public Relations(908) 439-2200, ext. 5644james.peavy@ambest.com

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