ratings downgrade News

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Ellington Mutual Insurance Co. Ratings Downgraded, Withdrawn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 …

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 …