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NEW YORK--A.M. Best Co. has assigned a financial strength rating of A- to Delos Insurance Co. and to its newly created excess and surplus lines insurance subsidiary, Naxos Insurance Co., the New York-based insurer said Thursday.
In addition, Naxos has received approval to write E&S business in nine states: Alabama, Arizona, Georgia, Illinois, Indiana, Nebraska, South Carolina, Texas and Wisconsin and the District of Columbia, Delos said, noting its goal is to obtain licenses in all 50 states.
Delos, which specializes in program business, created Naxos in April with initial capitalization of $20 million.