Ratings Roundup: Bristol West, Peoples

A.M. Best Co. has upgraded the financial strength ratings (FSR) to “A” (Excellent) from “A-” (Excellent) and issuer credit ratings (ICR) to “a” from “a-” of Bristol West Casualty Insurance Company, Bristol West Insurance Company, Coast National Insurance Company and Security National Insurance Company. Best also removed all of the ratings from under review with positive implications and assigned a stable outlook. In addition, Best assigned an FSR of “A” (Excellent) and an ICR of “a” to Michigan-baszed Bristol West Preferred Insurance Company with a stable outlook.

A.M. Best Co. has withdrawn the financial strength rating (FSR) of “A” (Excellent) and assigned a category NR-5 (Not Normally Followed) to Peoples Service Insurance Company of Woburn, Mass. “Peoples had been a wholly-owned stock subsidiary of Concord General Mutual Insurance Company (Concord, NH) and a fully-reinsured member of the Concord Group of Insurance Companies,” said Best. “Effective May 31, 2007; Peoples surrendered its insurance license to the Massachusetts Department of Insurance and was dissolved.”