Standard & Poor’s Ratings Services said today that it lowered its counterparty credit and insurer financial strength ratings on National Heritage Insurance Co. (TX) (National Heritage TX) to “Bpi” from “BBpi”.
“The ratings actions are based on National Heritage TX’s weak capitalization, high geographic and product concentrations, and volatile earnings,” said Standard & Poor’s credit analyst Allison MacCullough.
National Heritage TX is licensed and operates only in Texas. Its major line of business is group accident and health, and it is not a member of any insurance group. The company commenced operations in 1976.
Was this article valuable?
Here are more articles you may enjoy.
Farmers to Pay $2.8M to Settle TPCA Class Action Lawsuit 
One Weather Firm Warns New England Could See Big Hurricane This Season 
Former Bucknell University Coach Charged in Death of Freshman Football Player 
What 124 Future Business Leaders Really Think About AI and Work 
