St. Paul Fire & Marine Subs Get ‘AA’

“AA” counterparty credit ratings and FSRs were assigned to the operating companies of St. Paul Fire & Marine Insurance (SPFM) by S&P, which indicated that the rating actions reflect the support of SPFM and its wholly owned subsidiary, United States Fidelity & Guaranty Co. (USF&G).

The newly rated companies are: Discover Specialty; Seaboard Surety Co.; Fidelity & Guaranty Ins. Underwriters Inc.; Fidelity & Guaranty Ins. Co.; USF&G Ins. Co. of Mississippi; USF&G Ins. Co. of Wisconsin; and USF&G Specialty Ins. Co.

The first two companies listed are members of the St. Paul Fire & Marine Ins. Co. Intercompany Pool. The other companies are 100 percent reinsured by USF&G, the obligations of which are fully guaranteed by SPFM. The outlook is stable.