AP NEWS

A.M. Best Revises Outlooks to Stable for Lancer Indemnity Company and Lancer Insurance Company

August 21, 2018

OLDWICK, N.J.--(BUSINESS WIRE)--Aug 21, 2018--A.M. Best has revised the outlooks to stable from negative and has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of Lancer Indemnity Company (Long Beach, NY) and Lancer Insurance Company (Chicago, IL) (collectively referred to as the Lancer Group).

The ratings reflect Lancer Group’s balance sheet strength, which A.M. Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

The revision of the outlooks reflects improved underwriting performance over the last two years following a substantial strengthening of net loss reserves in 2015. Much more modest levels of adverse loss reserve development since that year allowed the Lancer Group to produce a combined ratio in 2017 that was below that of the commercial auto composite for the first time since 2012.

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 .

A.M. Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit for more information.

Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180821005463/en/

CONTACT: A.M. Best

Carl Altenburg, 908-439-2200, ext. 5213

Senior Financial Analyst

carl.altenburg@ambest.com

or

Christopher Sharkey, 908-439-2200, ext. 5159

Manager, Public Relations

christopher.sharkey@ambest.com

or

Robert Raber, 908-439-2200, ext. 5696

Senior Financial Analyst

robert.raber@ambest.com

or

Jim Peavy, 908-439-2200, ext. 5644

Director, Public Relations

james.peavy@ambest.com

KEYWORD: UNITED STATES EUROPE NORTH AMERICA NEW JERSEY

INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE INSURANCE

SOURCE: A.M. Best

Copyright Business Wire 2018.

PUB: 08/21/2018 10:49 AM/DISC: 08/21/2018 10:49 AM

http://www.businesswire.com/news/home/20180821005463/en

AP RADIO
Update hourly