A.M. Best has placed under review with positive implications the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “bbb+” of Savers Property and Casualty Insurance Co. (Savers) in Clayton, Missouri.
The ratings have been placed under review following the sale of Savers as a shell to Bedford, Texas-based State National Companies Inc. (State National), a subsidiary of Markel Corp. (Markel), by its parent, Star Insurance Co. in Southfield, Michigan.
The transaction closed on Nov. 2, 2018.
The ratings will remain under review pending conclusion of A.M. Best’s discussion with management regarding the future business of the company, including its participation in internal reinsurance within the Markel organization.
Source: A.M. Best
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