Demotech and AM Best act on AmCap ratings after surplus drops 64% in 2021

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Demotech has pulled its rating from American Capital Assurance Corp (AmCap) while AM Best has slashed its rating from A- to C after the Florida-based commercial residential and flood specialist reported surplus that plunged from $61mn to just $22mn in 2020 on the back of multiple severe weather losses.

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