S&P Global Market Intelligence compiles ratings actions in the insurance space daily through 5 p.m. ET. Actions after 5 p.m. ET will be included in the following day's roundup.
U.S. and Canada
A.M. Best assigned a financial strength rating of A- and a long-term issuer credit rating of "a-" to Bermuda-based 777 Re Ltd. The outlook assigned to the credit ratings is stable.
The ratings reflect 777 Re's balance sheet strength, which A.M. Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
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A.M. Best assigned a financial strength rating of A- and a long-term issuer credit rating of "a-" to North End Re Ltd. The outlook assigned to the credit ratings is stable.
The ratings reflect North End Re's balance sheet strength, which A.M. Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
The ratings also reflect the company's plan of making a significant capital investment to keep an appropriate level of risk-adjusted capital and regulatory risk-adjusted capital.
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A.M. Best revised the outlook of the long-term issuer credit ratings of Kansas Medical Mutual Insurance Co. and its subsidiary, KAMMCO Casualty Co. Inc., to stable from negative.
The rating agency also affirmed the financial strength ratings of B++ and the long-term issuer credit ratings of "bbb+" of the two companies. The outlook of the financial strength rating is stable.
The change in outlook recognizes the actions taken by the group to stabilize operating performance and capital levels in recent years.
The ratings reflect the group's balance sheet strength, which A.M. Best assesses as very strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management.
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Fitch Ratings withdrew its ratings on Liberty Mutual Group Inc. and its units for commercial reasons.
Prior to the withdrawal, the rating agency affirmed the BBB long-term issuer default rating of Liberty Mutual Group and the A- insurer financial strength ratings of its subsidiaries, Ohio Security Insurance Co., Liberty Mutual Mid-Atlantic Insurance Co., Wausau General Insurance Co., LM General Insurance Co., Safeco Insurance Co. of America, Wausau Business Insurance Co., Wausau Underwriters Insurance Co., American Fire & Casualty Co., Montgomery Mutual Insurance Co., West American Insurance Co., Employers Insurance Co. of Wausau, Golden Eagle Insurance Corp., LM Insurance Corp., First Liberty Insurance Corp., Peerless Insurance Co., Colorado Casualty Insurance Co., Liberty Insurance Underwriters Inc., American States Insurance Co., Safeco Insurance Co. of Indiana, Peerless Indemnity Insurance Co., Safeco Lloyds Insurance Co., American States Lloyds Insurance Co., American States Insurance Co. of Texas, Insurance Co. of Illinois, LM Property & Casualty Insurance Co., Safeco National Insurance Co., Safeco Surplus Lines Insurance Co., First National Insurance Co. of America, Liberty Mutual Personal Insurance Co., General Insurance Co. of America, American States Preferred Insurance Co., Indiana Insurance Co., Netherlands Insurance Co., Liberty Lloyds of Texas Insurance Co., Liberty County Mutual Insurance Co., Liberty Northwest Insurance Corp., Safeco Insurance Co. of Illinois, North Pacific Insurance Co., American Economy Insurance Co., Hawkeye-Security Insurance Co., Oregon Automobile Insurance Co., Excelsior Insurance Co., Midwestern Indemnity Co., Liberty Personal Insurance Co., Liberty Surplus Insurance Corp., Liberty Insurance Corp., Liberty Mutual Fire Insurance Co., National Insurance Association, Ohio Casualty Insurance Co., Mid-American Fire & Casualty Co., Consolidated Insurance Co., America First Insurance Co., Safeco Insurance Co. of Oregon and America First Lloyd's Insurance Co.
The rating agency also affirmed the BBB+ long-term issuer default rating and the A- insurer financial strength rating of Liberty Mutual Insurance Co.
The outlook was stable.
The affirmations of Liberty Mutual Group's ratings reflect capitalization that Fitch views as adequate for the current rating category but weaker than that of the group's peers.
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