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
Was this article valuable?
Here are more articles you may enjoy.
Insurify’s Founders Discuss Evolution of Insurance Shopping With AI 
Florida Bill Passes, Easing Agency Customer Reps’ Education Requirements 
Fund Trying to Turn New Mexico Desert into an Advanced Tech Hub 
P/C Statutory Results: The Highs and The Lows 
