ratings downgrade News

Ellington Mutual Insurance Co. Ratings Downgraded, Withdrawn

A.M. Best has downgraded the financial strength rating to B- (Fair) from B (Fair) and the issuer credit rating to “bb-” from “bb” of Ellington Mutual Insurance Co. (EMIC) in Hortonville, Wis. The outlook for both ratings remains negative. Concurrently, A.M. Best …

Deemed Insolvent, Ratings of Interstate Bankers Casualty Downgraded

A.M. Best has downgraded the financial strength rating to E (Regulatory Supervision) from C- (Weak) and the issuer credit rating to “rs” from “cc” of Interstate Bankers Casualty Co. (Interstate Bankers) of Chicago, Ill. The rating actions reflect Interstate Bankers being placed under …

Ratings of Houston’s Delta Lloyds Insurance Co. Downgraded

A.M. Best has downgraded the financial strength rating (FSR) to B++ (Good) from A- (Excellent) and issuer credit rating (ICR) to “bbb+” from “a-” of Delta Lloyds Insurance Company of Houston Texas (Delta Lloyds) (Houston, Texas). The outlook for the …

Best Downgrades Tower Group and Subs Ratings; Under Review/Negative

Last Friday, A.M. Best Co. downgraded the financial strength rating (FSR) to B (Fair) from B++ (Good) of the pooled and reinsured members of the Tower U.S. Pool. A.M. Best said the downgrade and other related actions take into consideration …

Virginia Farm Bureau Ratings Downgraded by A.M. Best

A.M. Best Co. said Wednesday it has downgraded the financial strength rating of Virginia Farm Bureau Mutual Insurance Co. in Richmond, Va., and its subsidiaries to B++ (Good) from A- (Excellent). Additionally, Oldwick, N.J.-based ratings agency A.M. Best said the …

A.M. Best Downgrades Rating of LEMIC Insurance Co.

A.M. Best Co. announced it has downgraded the financial strength rating to B (Fair) from B+ (Good) and issuer credit rating to “bb” from “bbb-” of workers’ compensation insurer LEMIC Insurance Co. (LEMIC) of Baton Rouge, La. Both ratings have …

A.M. Best Downgrades Madison Mutual Insurance Co.

A.M. Best Co. announced it has downgraded the financial strength rating to B++ (Good) from A- (Excellent) and issuer credit rating to “bbb+” from “a-” of Madison Mutual Insurance Co. (Madison Mutual), in Edwardsville, Ill. The outlook for both ratings …

A.M. Best Downgrades Oklahoma’s Farmers Mutual Fire Insurance

A.M. Best Co. announced it has downgraded the financial strength rating to B+ (Good) from B++ (Good) and issuer credit rating to “bbb-” from “bbb” of Farmers Mutual Fire Insurance Co. (Farmers) in Okarche, Okla. The outlook for both ratings …

A.M. Best Downgrades Peachtree Casualty Due to Florida Auto Results

A.M. Best has downgraded the financial ratings of Peachtree Casualty Insurance Co., citing the insurer’s poor underwriting results due in part to rising costs associated with Florida’s troubled no-fault automobile insurance market. A.M Best downgraded Peachtree Casualty Insurance Co.’s financial …