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Insurance ratings actions: A.M. Best affirms Berkshire Hathaway GUARD members

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.

Property and casualty

Demotech Inc. has assigned financial stability ratings of A, Exceptional, to Care West Insurance Co., SteadPoint Insurance Co. and Southern Trust Insurance Co.

The rating agency said it assigns this level of financial stability rating to insurers with exceptional financial stability related to maintaining positive surplus as regards policyholders, liquidity of invested assets, an acceptable level of financial leverage, reasonable loss and loss adjustment expense reserves and realistic pricing.

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A.M. Best has removed from under review with negative implications and affirmed the financial strength ratings of B++ (Good) and the long-term issuer credit ratings of "bbb+" of Multinational Insurance Co. members.

The outlook is stable.

A.M. Best said the ratings reflect Multinational's strong balance sheet strength, marginal operating performance, limited business profile, appropriate enterprise risk management and rating lift from its parent company.

Multinational's balance sheet strength is supported by the strong level of risk-adjusted capitalization, reflective of its comprehensive reinsurance program and prudent investment risk profile. Additionally, the company receives rating support from its parent company, Aseguradora Ancon SA, based on historical capital and operational support, according to the rating agency.

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A.M. Best has affirmed the financial strength ratings of A+ (Superior) and the long-term issuer credit ratings of "aa-" of Berkshire Hathaway GUARD Insurance Cos. members WestGUARD Insurance Co., AmGUARD Insurance Co., EastGUARD Insurance Co. and NorGUARD Insurance Co.

The outlook is stable.

The ratings reflect Berkshire Hathaway GUARD Insurance's strongest balance sheet strength, strong operating performance, neutral business profile and appropriate enterprise risk management, A.M. Best said.

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