ratings downgrade News

Ratings of Missouri-Based National Fire and Indemnity Exchange Downgraded

A.M. Best has downgraded the financial strength rating (FSR) to B++ (Good) from A- (Excellent) and the issuer credit ratings (ICR) to “bbb+” from “a-” of National Fire and Indemnity Exchange (NFIE) in St. Louis, Mo. The outlook for the FSR has been …

Ratings Downgrades for Members of California-based CSAA: A.M. Best

A.M. Best has downgraded the financial strength rating to A (Excellent) from A+ (Superior) and the issuer credit ratings to “a+” from “aa-” of the members of Walnut Creek, Calif.-based CSAA Insurance Group. CSAA is an American Automobile Association Inc. …

Ratings of Financial American Property and Casualty Insurance Downgraded

A.M. Best has downgraded the financial strength rating (FSR) to B++ (Good) from A- (Excellent) and the issuer credit rating (ICR) to “bbb+” from “a-” of Financial American Property and Casualty Insurance Company (FAMPAC) , Kerrville, Texas. The outlook for the ICR was …

A.M. Best: Ratings of National Unity Insurance Downgraded, Withdrawn

A.M. Best reported it has both downgraded and withdrawn the ratings for National Unity Insurance Company (National Unity) in San Antonio, Texas. National Unity specializes domestic non-standard auto business, as well as  in insuring Mexican cars and commercial trucks traveling …

Ratings of Texas-Based National Unity Insurance Downgraded

A.M. Best has downgraded the financial strength rating to B+ (Good) from B++ (Good) and the issuer credit rating to “bbb-” from “bbb” of San Antonio-based National Unity Insurance Co. (National Unity). The outlook for both ratings is negative. National Unity operates …

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 …