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AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to bbb+ from bbb and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Northwest G. F. Mutual Insurance Company (NWGF) (Eureka, SD). The outlook of the FSR has been revised to positive from stable while the outlook for the Long-Term ICR is positive.
These Credit Ratings (ratings) reflect NWGF s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).
The upgrade of the Long-Term ICR reflects the company s strengthened balance sheet, inferred by key metrics of financial strength over the past five years with those over the longer term. Improved operating performance has powered robust policyholders surplus growth over the past five years, which in turn pushes important quantitative metrics such as underwriting and reserve leverages in the favorable direction. AM Best
Press release content from Business Wire. The AP news staff was not involved in its creation.
AM Best Withdraws Credit Ratings of Nations Insurance Company
March 16, 2021 GMT
OLDWICK, N.J. (BUSINESS WIRE) Mar 16, 2021
AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bb+” of Nations Insurance Company (NIC) (Cerritos, CA). The outlook of these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn the ratings as the company has requested to no longer participate in AM Best’s interactive rating process.
The ratings reflect NIC’s balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business profile and marginal enterprise risk management.
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AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of a+ of QBE Europe nv/sa (Belgium), QBE UK Limited (United Kingdom), and the pooled members of QBE North America Insurance Group (see list below). The outlook of the Long-Term ICR has been revised to negative from stable, while the outlook of the FSR is stable. These companies are key operating subsidiaries of QBE Insurance Group Limited (QBE) (Australia), the non-operating holding company of the QBE group of companies.
In addition, AM Best has revised the outlook to negative from stable and affirmed the Long-Term ICR of bbb+ of QBE, which AM Best has concurrently withdrawn at the company s request.
Press release content from Business Wire. The AP news staff was not involved in its creation.
AM Best Revises Outlooks to Negative for Guild Insurance Limited
March 11, 2021 GMT
SINGAPORE (BUSINESS WIRE) Mar 11, 2021
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Guild Insurance Limited (GIL) (Australia).
The ratings reflect GIL’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. In addition, the ratings factor in no rating lift or drag from the company’s 100% ultimate ownership by The Pharmacy Guild of Australia (PGOA).
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