A.M. Best Revises Outlooks to Stable for Country-Wide Insurance Company
OLDWICK, N.J.--(BUSINESS WIRE)--Aug 1, 2018--A.M. Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of C+ (Marginal) and the Long-Term Issuer Credit Rating of “b-” of Country-Wide Insurance Company (Country-Wide) (New York, NY).
The Credit Ratings (ratings) reflect Country-Wide’s balance sheet strength, which A.M. Best categorizes as weak, as well as its marginal operating performance, limited business profile and marginal enterprise risk management.
The revision of the outlooks reflects the improved operating performance as a result of underwriting initiatives taken by management to address rate and reserve adequacy. In addition, Country-Wide’s expense ratio has improved after changes were made to the commission structure. These changes have shown some improvement to the operating ratio in 2017 and through the first six months of 2018.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s web page. For additional information regarding the use and limitations of Credit Rating opinions, please view . For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view .
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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CONTACT: A.M. Best
Janet Hernandez, +1 908 439 2200, ext. 5767
Senior Financial Analyst
Richard Attanasio,+1 908 439 2200, ext. 5432
Christopher Sharkey, +1 908 439 2200, ext. 5159
Manager, Public Relations
Jim Peavy, +1 908 439 2200, ext. 5644
Director, Public Relations
KEYWORD: UNITED STATES EUROPE NORTH AMERICA NEW JERSEY NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE
SOURCE: A.M. Best
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PUB: 08/01/2018 02:58 PM/DISC: 08/01/2018 02:58 PM