ratings downgrade News

Ratings of Ohio’s Buckeye State Mutual Downgraded

A.M. Best has downgraded the financial strength rating to B (Fair) from B+ (Good) and the issuer credit ratings to “bb+” from “bbb-” of Buckeye State Mutual Insurance Co. (Buckeye) of Piqua, Ohio, and its insurance affiliate: Home and Farm Insurance Co. in Fort …

Ratings of Illinois-Based Unique Insurance Downgraded

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 Unique Insurance Co. (Unique) of Chicago, Ill. The outlook for both ratings has been revised to negative from stable. …

Ratings of Illinois-Based Specialty Risk of America Downgraded

A.M. Best has downgraded the financial strength rating (FSR) to B+ (Good) from B++ (Good) and the issuer credit rating (ICR) to “bbb-” from “bbb+” of Specialty Risk of America (SPRISKA) in Springfield, Ill. The outlook for the ICR remains negative, while the …

Issuer Credit Rating of San Antonio’s National Unity Insurance Downgraded

A.M. Best downgraded the issuer credit rating (ICR) to “bbb” from “bbb+” and affirmed the financial strength rating (FSR) of B++ (Good) of National Unity Insurance Co. (National Unity) in San Antonio, Texas. The outlook for both ratings has been revised to negative …

Ratings of Farmers Mutual Hail Insurance Co. of Iowa Downgraded

A.M. Best has downgraded the financial strength rating to A- (Excellent) from A (Excellent) and the issuer credit rating to “a-”from “a” of Farmers Mutual Hail Insurance Company of Iowa (FMH), headquartered in West Des Moines. Both ratings have been removed from …

A.M. Best Downgrades Ratings of Greenville Casualty Insurance Co.

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 Greenville Casualty Insurance Co. (Greer, SC). The outlook for both ratings remains negative. The rating downgrades …

Ratings of Houston-Based Delta Lloyds Insurance Co. Downgraded

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

S&P Lowers Cooper Gay Swett & Crawford Ratings to ‘B-‘; Outlook Stable

Standard & Poor’s Ratings Services has lowered its long-term corporate credit rating on London-based global wholesale and reinsurance broker, Cooper Gay Swett & Crawford (CGSC) to ‘B-‘ from ‘B’ with a stable outlook is stable. S&P also said it has …

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 …