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AM Best Places Credit Ratings of Members of Farmers Insurance Group Under Review With Developing Implications
December 11, 2020 GMT
OLDWICK, N.J. (BUSINESS WIRE) Dec 11, 2020
AM Best has placed under review with developing implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” of the members of Farmers Insurance Group (Farmers). Concurrently, AM Best has placed under review with developing implications the Long-Term Issue Credit Ratings (Long-Term IR) of “bbb+” on the outstanding surplus notes of Farmers Insurance Exchange (Exchange) (Woodland Hills, CA) and Farmers Exchange Capital. All companies are domiciled in Los Angeles, CA, unless otherwise specified. (Please see link below for a detailed listing of the companies and ratings.)
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AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of a+ of Seguros Catalana Occidente, S.A. de Seguros y Reaseguros (SCO), Bilbao, Compañía Anónima de Seguros y Reaseguros, S.A. (SB) and Plus Ultra Seguros Generales y Vida, S.A. de Seguros y Reaseguros (PU). All three companies are wholly owned subsidiaries of Grupo Catalana Occidente, S.A. (GCO), the non-operating holding company of the GCO group, and are the traditional insurance business units of the group. These companies are domiciled in Spain. The outlook of these Credit Ratings (ratings) is stable.
Press release content from Business Wire. The AP news staff was not involved in its creation.
AM Best Affirms Credit Ratings of Starr International Company Inc.’s Insurance Subsidiaries
December 11, 2020 GMT
OLDWICK, N.J. (BUSINESS WIRE) Dec 11, 2020
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” of the insurance subsidiaries of Starr International Company, Inc. (SICO) (Switzerland), a private investment holding company. These Credit Rating (rating) actions apply to the members of Starr International Group (SIG) and Starr Insurance & Reinsurance Limited (SIRL) (Bermuda). The outlook of these ratings is stable.
The Lafayette Life Insurance Company (Lafayette Life) (collectively referred to as W&SF Group).
At the same time, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a+” of Gerber Life Insurance Company (Gerber Life) (White Plains, NY). In addition, AM Best has affirmed the Long-Term ICR of “a” and the Long-Term IR on the senior unsecured notes of WSFG.
The outlook of these Credit Ratings (ratings) is stable. All companies are domiciled in Cincinnati, OH, except where specified. (See below for a detailed list of the Long-Term IRs)
The ratings of W&SF Group reflect its balance sheet strength, which AM Best categorizes as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management (ERM).
The Lafayette Life Insurance Company (Lafayette Life) (collectively referred to as W&SF Group).
At the same time, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of a+ of Gerber Life Insurance Company (Gerber Life) (White Plains, NY). In addition, AM Best has affirmed the Long-Term ICR of a and the Long-Term IR on the senior unsecured notes of WSFG.
The outlook of these Credit Ratings (ratings) is stable. All companies are domiciled in Cincinnati, OH, except where specified. (See below for a detailed list of the Long-Term IRs)
The ratings of W&SF Group reflect its balance sheet strength, which AM Best categorizes as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management (ERM).