The “BBBpi” FSR on Massachusetts-based Commerce Insurance Co. was affirmed by Standard & Poor’s (S&P). The rating action takes into account the combined financial strength of The Commerce Insurance Co., Commerce West Insurance Co., Citation Insurance Co. and American Commerce Insurance Co.
Also affirmed was the “BBBpi” FSR of Commerce West Insurance Co., formerly Western Pioneer Insurance Co., based in Pleasanton, Calif. The company is licensed and operates only in California.
In addition, S&P assigned a “BBBpi” FSR on Columbus, Ohio-based American Commerce Insurance Co., whose major states of operation are Arizona, Oregon, Washington, Ohio and Rhode Island. All companies are ultimately owned by the Commerce Group Inc., an insurance group which specializes in personal auto.
Was this article valuable?
Here are more articles you may enjoy.
London Broker Howden Plots Giant Capital Raise on IPO Path 
One Weather Firm Warns New England Could See Big Hurricane This Season 
Premiums Will Skyrocket by 2035; Discounts Not Enough for Wind Mit, Studies Say 
El Niño Likely Strongest in 75 Years, US Forecasters Say From This Issue
