A.M. Best has placed under review with positive implications the financial strength rating (FSR) of B+ (Good) and the issuer credit rating (ICR) of “bbb-” of Imperial Fire and Casualty Insurance Company (Imperial) of Opelousas, La.
The under review with positive implications status follows the recent announcement that National General Holdings Corp. (NGHC) of Winston-Salem, N.C., has purchased Imperial, National Automotive Insurance Co. and the business assets of Imperial Management Corp.
The positive implications also reflect the FSR of A- (Excellent) and the ICR of “a-” of Integon National Insurance Co. (Integon), the lead company of the National General Group, and the addition of Imperial to the affiliated pool agreement of Integon.
NGHC is a licensed property/casualty writer offering personal auto, recreational vehicle, motorcycle, commercial auto and other lines.
Imperial is a licensed property/casualty writer, domiciled in Louisiana primarily offering private passenger non-standard auto in Louisiana, Florida and Texas.
The ratings will remain under review until A.M. Best has the opportunity to evaluate Imperial under the new parent company and fully analyze its future business plans, as well as its overall risk-adjusted capitalization.
Source: A.M. Best