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
Was this article valuable?
Here are more articles you may enjoy.
CEO Sentenced in Miami to 15 Years in One of the Largest Health Care Fraud Cases 
Howden US Tells Judge Brown & Brown Employees Fled Due to ‘Mistreatment’ 
Louvre Tightens Security After $102M Jewel Heist, Installs Bars on Infamous Window 
Former CEO of Nonprofit P/C Statistical Agent Sentenced for Stealing Millions 
