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Insurance ratings actions, June 7

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Insurance ratings actions, June 7

S&P Global Market Intelligence compiles ratings actions in the insurance space daily through 5:30 p.m. ET. Actions after 5:30 p.m. ET will be included in the following day's roundup.

Managed care

A.M. Best affirmed the financial strength ratings of A and the long-term issuer credit ratings of "a" of Delta Dental of California and its affiliates, Delta Dental Insurance Co., Delta Dental of Pennsylvania and Delta Dental of New York Inc.

The outlook is stable.

A.M. Best said the affirmations reflect growth trends in premium volume, profitability and risk-adjusted capital levels reported on a consolidated and individual company basis.

Life and health

A.M. Best affirmed the financial strength ratings of A++ and the long-term issuer credit ratings of "aa+" of Guardian Life Insurance Co. of America and its core subsidiaries, Guardian Insurance & Annuity Co. Inc. and Berkshire Life Insurance Co. of America.

Additionally, A.M. Best affirmed the financial strength rating of A and the long-term issuer credit ratings of "a+" of Guardian Life's subsidiaries, Premier Access Insurance Co., Access Dental Plan and First Commonwealth Insurance Co.

The outlook is stable.

The ratings reflect the organization's sound capital structure, strong market position and trend of strong operating gains.

Property and casualty

A.M. Best affirmed the long-term issuer credit rating of "a-" and the long-term issue credit ratings of Aviva Plc.

Additionally, A.M. Best affirmed the financial strength ratings of A and the long-term issuer credit ratings of "a+" of Aviva's subsidiaries Aviva Insurance Ltd., Aviva International Insurance Ltd., Aviva Insurance Co. of Canada, Elite Insurance Co., Traders General Insurance Co., Pilot Insurance Co., Scottish & York Insurance Co. Ltd. and S&Y Insurance Co.

The outlook is stable.

The ratings of Aviva and its subsidiaries reflect the group's strong risk-adjusted capitalization, stable financial performance, expected strong cash flow and very strong business profile in its core markets, A.M. Best said.

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A.M. Best affirmed the financial strength rating of B and the long-term issuer credit rating of "bb" of American Federated Insurance Co.

The outlook remains negative.

The ratings reflect the considerable financial leverage that resulted in a deficit in members' equity at First Tower Finance Co. LLC, the parent company of American Federated Insurance. The outlook reflects the significant financial leverage at the parent company.