Standard & Poor’s Ratings Services said today that it revised its outlook on American Bankers Insurance Co. of FL, American Security Insurance Co., and American Bankers Life Assurance Co. of FL (collectively referred to as Assurant Solutions and Special Property – ASSP) to stable from positive. S&P affirmed its “A-” counterparty credit and financial strength ratings on ASSP, and further said that the “action does not affect the ratings on the holding company, Assurant Inc., or its other operating companies.” S&P credit analyst Shellie Stoddard explained that the “outlook revision follows Assurant’s disclosure that two individuals from the units each received a ‘Wells notice’ from the SEC related to an ongoing investigation of certain loss-mitigation insurance products” (See related article).
Was this article valuable?
Here are more articles you may enjoy.
Isaias: 47,000 Claims and $582M in Losses in Florida So Far, OIR Reports 
KCC Says Isaias Insured Losses to Be $3 Billion; AM Best Calls Storm an Earnings Event 
Chubb Q3 Net Income Down Slightly on More Catastrophe Losses 
Insurer Rolls Out Policy to Protect Data Centers Against Growing Backlash 
