AM Best has revised its under review status for NASW Insurance Company (NASWIC), a captive insurer wholly owned by the National Association of Social Workers (NASW), shifting the outlook from developing to ‘negative’
Lion Re is a Bermuda-based captive reinsurer assuming risks from ASSA Tenedora affiliates for property, auto, liability, marine, group life, health and miscellaneous businesses
AM Best has revised its outlook to ‘positive’ from ‘stable’ for Fidvest US, a South Carolina-based pure captive owned by Fidelity Management & Research (FMR)
AM Best has assigned a financial strength rating of ‘B++’ (Good) and a long-term issuer credit rating of ‘bbb+’ to Cadence Indemnity, single-parent captive of the Sullivan Brothers Family of Companies
The ratings are said to reflect the fund’s balance sheet strength and sustained balance sheet improvement
The ratings have been withdrawn at the request of the company, which no longer wants to participate in AM Best’s interactive rating process
AM Best has revised the outlooks for Mercury General Corporation and its subsidiaries to ‘negative’ from ‘stable’, citing uncertainty over wildfire-related losses and future reinsurance costs
