A.M. Best Withdraws Ratings of Atlantic Insurance Company

Business Wire, March 13, 2009

OLDWICK, N.J. -- A.M. Best Co. has withdrawn the financial strength rating of A (Superior) and issuer credit rating of “aa-” of Atlantic Insurance Company (Atlantic Insurance) (Irving, TX) and assigned a category NR-5 (Not Formally Followed) to the FSR and an “nr” to the ICR.

Effective December 31, 2008, Atlantic Insurance was purchased by Scottsdale Insurance Company (Scottsdale) from The Travelers Indemnity Company (Hartford, CT). Scottsdale is a wholly owned subsidiary of Nationwide Mutual Insurance Company and a member of Nationwide Group (Nationwide). All companies are domiciled in Columbus, OH, unless otherwise specified.

While Atlantic Insurance was purchased as a shell company, A.M. Best continues to evaluate its strategic position and possible future use within the Nationwide organization.

For Best’s Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.

The principal methodologies used in determining these ratings, including any additional methodologies and factors, which may have been considered, can be found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.