A.M. Best removed from under review with positive implications and upgraded the financial strength rating (FSR) to A- (Excellent) from B+ (Good) and the issuer credit rating (ICR) to “a-” from “bbb-” of Imperial Fire and Casualty Co. in Opelousas, La.
Concurrently, A.M. Best assigned an FSR of A- (Excellent) and an ICR of “a-” to National Automotive Insurance Co. of Metarie, La.
The outlook assigned to all ratings is stable.
These rating actions follow closure of the companies’ acquisition by National General Holdings Corp. (National General) and the explicit support provided by one of its subsidiaries, Integon National Insurance Co., in the form of an intercompany reinsurance pooling agreement that was executed following regulatory approval.
All remaining ratings of National General and its subsidiaries are unchanged.
Source: A.M. Best
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