Fairmont Specialty given okay by US regulators

Fairfax’s Fairmont Specialty Group Inc. which includes the remaining business of former subsidiaries TIG Insurance Group and Ranger Insurance Group says U.S. regulators have given a "thumbs up" to the company’s structure and capitalization.The announcement prompted rating agency A.M. Best to place under review with developing implications the financial strength ratings of Fairmont Insurance Co. and TIG Premier Insurance Co. (both at "B+", very good), and Ranger Insurance Co. and Ranger Lloyds (both at "B++", very good).The group of companies will be headquartered in several states, including: the accident & health business in New Jersey; the standard p&c book in Hawaii; and special lines p&c in Texas.Following its review, A.M. Best says it will issue a group rating for Fairmont.