A.M. Best Comments on the Planned Acquisition of Hermitage Insurance Group, Inc.

OLDWICK, N.J.--(Business Wire)--
A.M. Best Co. has commented that the financial strength rating
(FSR) of B++ (Good) and issuer credit ratings (ICR) of "bbb+" of
Hermitage Insurance Group and its lead member, Hermitage Insurance
Company (Hermitage) (White Plains, NY), are unchanged following the
announcement that CastlePoint Holdings, LTD (Bermuda) (NASDAQ: CPHL)
has entered into a definitive agreement to acquire Hermitage Insurance
Group, Inc., an insurance holding company ultimately owned by
Brookfield Asset Management Inc. (Toronto, Ontario, Canada) (NYSE:
BAM; TSX: BAMA; EURONEXT: BAMA). The outlook for these ratings remains
positive.

Concurrently, the FSR of B++ (Good) and ICR of "bbb+" of Kodiak
Insurance Company (West Trenton, NJ), a wholly owned subsidiary of
Hermitage, are unchanged. The outlook for both ratings remains stable.

The acquisition is subject to customary regulatory approvals and
is expected to close in December 2008.

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

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.

A.M. Best Co.
Analysts:
Joseph M. Roethel, 908-439-2200, ext. 5630
joseph.roethel@ambest.com
or
Daniel J. Ryan, 908-439-2200, ext. 5325
daniel.ryan@ambest.com
or
Public Relations:
Jim Peavy, 908-439-2200, ext. 5644
james.peavy@ambest.com
or
Rachelle Morrow, 908-439-2200, ext. 5378
rachelle.morrow@ambest.com

Copyright Business Wire 2008