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A.M. Best Places Credit Ratings of Savers Property and Casualty Insurance Company Under Review With Positive Implications

November 14, 2018

OLDWICK, N.J.--(BUSINESS WIRE)--Nov 14, 2018--A.M. Best has placed under review with positive implications the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “bbb+” of Savers Property and Casualty Insurance Company (Savers) (Clayton, MO).

These Credit Ratings (ratings) have been placed under review with positive implications following the sale of Savers as a shell to State National Companies, Inc. (State National) (headquartered in Bedford, TX), a subsidiary of Markel Corporation (Markel) [NYSE: MKL], by its parent, Star Insurance Company (Southfield, MI). The transaction closed on Nov. 2, 2018.

The ratings will remain under review pending conclusion of A.M. Best’s discussion with management regarding the future business of the company, including its participation in internal reinsurance within the Markel organization.

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/20181114005873/en/

CONTACT: A.M. Best

Edin Imsirovic, +1 908 439 2200, ext. 5740

Senior Financial Analyst

edin.imsirovic@ambest.com

or

Jacqalene Lentz, CPA, +1 908 439 2200, ext. 5762

Director

jacqalene.lentz@ambest.com

or

Christopher Sharkey, +1 908 439 2200, ext. 5159

Manager, Public Relations

christopher.sharkey@ambest.com

or

Jim Peavy, +1 908 439 2200, ext. 5644

Director, Public Relations

james.peavy@ambest.com

KEYWORD: UNITED STATES EUROPE NORTH AMERICA NEW JERSEY

INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE

SOURCE: A.M. Best

Copyright Business Wire 2018.

PUB: 11/14/2018 03:38 PM/DISC: 11/14/2018 03:37 PM

http://www.businesswire.com/news/home/20181114005873/en

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