Credit Ratings Assigned to Ohio’s Westfield Specialty Insurance June 3, 2021
AM Best has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” (Excellent) to Westfield Specialty Insurance Co. (Westfield Specialty), a newly added member of Westfield Group (Westfield).
All members are wholly owned subsidiaries of Westfield Center, Ohio-based Ohio Farmers Insurance Company (Ohio Farmers), the ultimate parent.
The outlook assigned to the ratings is stable.
The ratings reflect Westfield Specialty’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.