Fitch Ratings has affirmed the ‘BBB’ Issuer Default Rating of LandAmerica Financial Group (LFG) and the ‘A-‘ Insurer Financial Strength Ratings of its insurance subsidiaries with a stable outlook. Fitch cited LandAmerica’s “strong competitive position with the third largest market share of approximately 19 percent, as well as the company’s high-quality, liquid investment portfolio,” as backing the assigned ratings.
A.M. Best Co. has withdrawn the financial strength rating (FSR) of “A+” (Superior) and the issuer credit rating (ICR) of “aa” of Nebraska-based Jefferson Pilot Financial Insurance Company. “These rating actions are a result of the merger of JP Financial into its affiliate, The Lincoln National Life Insurance Company” of Fort Wayne Ind., Best indicated.
Was this article valuable?
Here are more articles you may enjoy.
UBS Fined $125M by US Regulators for Money Laundering Violations 
Troubled Alabama City Loses its Liability Insurance Coverage 
Insurers Are ‘Actively Evaluating’ New Catastrophe Risks as Europe Burns 
NHTSA Says Some Older Ford Cars, SUVs Pose Unreasonable Safety Risks 
