AP NEWS

A.M. Best Withdraws Credit Ratings of National Insurance Company of Wisconsin, Inc.

September 25, 2018

OLDWICK, N.J.--(BUSINESS WIRE)--Sep 25, 2018--A.M. Best has affirmed the Financial Strength Rating (FSR) of B+ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb-” of National Insurance Company of Wisconsin, Inc. (NICW) (Brookfield, WI). The outlook of these Credit Ratings (ratings) remains stable. Concurrently, A.M. Best has withdrawn the ratings of NICW due to a lack of interaction with company management, as well as the limited liability structure of the organization. Consequently, the company no longer meets the minimum requirements needed to participate in A.M. Best’s interactive rating process.

The ratings reflect NICW’s balance sheet strength, which A.M. Best categorizes as very strong, as well as the company’s marginal operating performance, limited business profile and marginal enterprise risk management. The stable outlooks consider NICW’s very strong balance sheet strength assessment.

Following the final rating review, A.M. Best has decided to withdraw the ratings, largely reflecting NICW’s very limited remaining business operations. From a balance sheet perspective, loss reserves essentially were eliminated when the last of NICW’s long-term disability and long-term care reserves were reinsured over the past several years, thereby significantly reducing the remaining liability structure of the 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/20180925006178/en/

CONTACT: A.M. Best

David Mitchell, +1 908-439-2200, ext. 5556

Senior Financial Analyst

david.mitchell@ambest.com

or

Joseph Zazzera, +1 908-439-2200, ext. 5797

Director

joseph.zazzera@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 WISCONSIN

INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE

SOURCE: A.M. Best

Copyright Business Wire 2018.

PUB: 09/25/2018 04:29 PM/DISC: 09/25/2018 04:29 PM

http://www.businesswire.com/news/home/20180925006178/en

AP RADIO
Update hourly