S&P Global MarketIntelligence compiles ratings actions in the insurance space daily through 5:30p.m. ET. Actions after 5:30 p.m. ET will be included in the following day'sroundup.
Life and health
A.M. Best removed from under review with developing implicationsand affirmed the A+ financial strength ratings and the "aa-"long-term issuer credit ratings of Metropolitan Life Insurance Co., and Metropolitan Tower LifeInsurance Co.
The "a-" long-term issuer credit ratings ofMetLife Inc. and itsexisting long-term issuer credit ratings were removed from under review andaffirmed.
In addition, the rating agency removed from under reviewwith developing implications and downgraded the financial strength ratings to Afrom A+ and the long-term issuer credit ratings to "a+" from"aa-" of MetLifeInsurance Co. USA, New England Life Insurance Co. and These entities will be held under Brighthouse Financial, a newly formed holdingcompany.
A.M. Best also removed from under review with developingimplications and affirmed the financial strength ratings of A and the long-termissuer credit ratings of "a+" of MetLife's property and casualtycompanies, consisting of Metropolitan Property and Casualty Insurance Co. andseven fully reinsured subsidiaries, as well as a separately rated subsidiary,Metropolitan Group Property andCasualty Insurance Co.
The outlook assigned to the ratings is stable.
A.M. Best said the downgrades of the entities underBrighthouse reflect their less creditworthy liability profile and that theywill no longer benefit from the strength and support of MetLife, as well as itsrelated diversified businesses.
The ratings affirmations of Metropolitan Life, GeneralAmerican and Metropolitan Tower reflect their industry-leading position in thegroup insurance markets and their international presence.
A.M. Best affirmed the financial strength ratings of A andlong-term issuer credit ratings of "a+" of andits unit American National LifeInsurance Co. of New York .
The credit ratings of the parent company were extended tothe unit based on its strategic role as the New York marketing arm of itsultimate parent.
A.M. Best also affirmed the financial strength ratings of Aand long-term issuer credit ratings of "a" of certain life insuranceunits of American National Insurance, including ,Standard Life & AccidentInsurance Co. and FarmFamily Life Insurance Co.
In addition, the rating agency affirmed the financialstrength ratings of A- and the long-term issuer credit ratings of"a-" of AmericanNational Life Insurance Co. of Texas.
The outlook on the ratings is stable.
American National Insurance's ratings affirmation is basedon its strong level of consolidated risk-adjusted capitalization, growth instatutory capital and surplus, continued profitable earnings and diverseproduct offerings.
The rating agency said the ratings of the life insuranceunits acknowledge their strong risk-adjusted capitalization and continuingcontribution to American National Insurance's consolidated results.
In addition, A.M. Best has affirmed the financial strengthratings of A and the long-term issuer credit ratings of "a" ofAmerican National Property andCasualty Co., its unit, American National General Insurance Co., and itsaffiliate, American NationalCounty Mutual Insurance Co., as well as its separately ratedsubsidiaries American NationalLloyds Insurance Co. and Pacific Property & Casualty Co.
At the same time, the agency affirmed the financial strengthrating of A- and the long-term issuer credit rating of "a-" ofAmerican National Property and Casualty's separately rated subsidiary,ANPAC Louisiana InsuranceCo.
Concurrently, A.M. Best affirmed the financial strengthratings of A and the long-term issuer credit ratings of "a" ofFarm Family Casualty InsuranceCo. and United FarmFamily Insurance Co.
The outlook on these ratings is stable. The ratings reflectsolid risk-adjusted capitalization as measured by the agency's capital adequacyratio, generally favorable operating earnings and extensive market knowledge asa national writer.
Property and casualty
A.M. Best affirmed the financial strength rating of A+ andthe long-term issuer credit rating of "aa-" of .
The rating agency also affirmed the financial strengthrating of A+ and the long-term issuer credit rating of "aa-" ofCSI Life Insurance Co.
A.M. Best said the ratings reflect Central States' excellentrisk-adjusted capitalization, consistently profitable performance, strongbalance sheet liquidity and very conservative underwriting leverage, as well asthe benefits made available through its ultimate parent,
The ratings affirmations of CSI Life reflect its synergieswith Central States, as the company commenced writing direct sales of Medicaresupplement insurance in 2014.
Moody's affirmed the insurance financial strength ratings ofEndurance Specialty HoldingsLtd.'s principal operating subsidiaries, including andEndurance AssuranceCorp., at A2.
The rating agency also affirmed Endurance's debt andpreferred stock ratings.
The action comes after an announcement that Endurance has agreed to be acquired bya subsidiary of Sompo HoldingsInc.
The outlook for the ratings is stable.
Moody's said the ratings affirmation reflects Endurance'sstrong business profile and financial metrics, including its substantiallyincreased equity capitalization and scale following the acquisition ofMontpelier Re Holdings Ltd.; its moderate financial and operational leverage;and its lower catastrophe exposure as a percentage of equity capital relativeto most of its peers.