American Millennium Insurance Company

American Millennium Insurance Company specializes in insuring taxis in New Jersey and provides coverage for owner-operator and small fleet motor carriers in the state.

AM Best downgrades Citadel Re’s subsidiary **American Millennium Insurance Company (AMIC)** to a **D (Poor) Financial Strength Rating** following a failed capital raise attempt. The downgrade reflects heightened financial instability for the reinsurance firm. AM Best also removed AMIC from under review with developing implications, signaling concerns over its ability to meet obligations.

May 2023Bermuda:Re+ILSNews article

Citadel Risk restructures the balance sheets of **Citadel Reinsurance Company Limited (Bermuda)** and **American Millennium Insurance Company** through refinancing efforts. The move involves substantial capital adjustments across its subsidiaries to optimize financial positioning. No specific details on funding amounts or strategic outcomes are disclosed.

Oct 2021Captive InternationalNews article

Citadel injects $10 million into American Millennium Insurance Company, a wholly-owned subsidiary, to support financial recovery after a challenging year. The move aims to stabilize operations amid industry-wide pressures. American Millennium specializes in reinsurance solutions for commercial risks.

Oct 2021The Royal GazetteNews article

Citadel is increasing capital for its subsidiaries **Citadel Reinsurance Company Bermuda** and **American Millennium Insurance Company (AMIC)** through three financing arrangements. The move follows a challenging year for the company, positioning it to underwrite larger insurance lines. The capital adjustments directly strengthen the balance sheets of these key reinsurance and insurance entities.

Oct 2021Intelligent InsurerNews article