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Insurance ratings actions: A.M. Best upgrades CUNA Mutual Financial

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Insurance ratings actions: A.M. Best upgrades CUNA Mutual Financial

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.

Life and health

A.M. Best has affirmed the financial strength rating of B++ (Good) and the long-term issuer credit rating of "bbb" of Life Insurance Co. of Alabama.

The outlook is stable.

The ratings reflect the company's very strong balance sheet strength, adequate operating performance, limited business profile and marginal enterprise risk management, the rating agency said.

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A.M. Best has affirmed the financial strength ratings of B++ (Good) and the long-term issuer credit ratings of "bbb" of Health Net of California Inc., Health Net Life Insurance Co., Health Net Health Plan of Oregon Inc. and Health Net of Arizona Inc.

The outlook of these ratings is stable.

Concurrently, A.M. Best has withdrawn the ratings as the companies no longer want to participate in the rating agency's interactive rating process.

The affirmations reflect the companies' adequate balance sheet strength, marginal operating performance, neutral business profile and appropriate enterprise risk management.

Multiline

A.M. Best has affirmed the financial strength ratings of A (Excellent) and the long-term issuer credit ratings of "a" of American Southern Insurance Co. and its subsidiary American Safety Insurance Co.

Additionally, A.M. Best has affirmed the financial strength ratings of A- (Excellent) and the long-term issuer credit ratings of "a-" of Bankers Fidelity Life Insurance Co. and Bankers Fidelity Assurance Co.

Concurrently, A.M. Best has affirmed the long-term issuer credit rating of "bbb-" of the parent company, Atlantic American Corp.

The outlooks of these ratings are stable.

The ratings reflect the very strong balance sheet strength of American Southern Insurance and American Safety Insurance, their adequate operating performance, neutral business profile and appropriate enterprise risk management, A.M. Best said.

The ratings of Bankers Fidelity Life Insurance and Bankers Fidelity Assurance consider their very strong balance sheet strength, coupled with their marginal operating performance, neutral business profiles and an appropriate enterprise risk management.

Property and casualty

A.M. Best has upgraded the long-term issuer credit ratings to "a+" from "a" and affirmed the financial strength ratings of A (Excellent) of CMFG Life Insurance Co., MEMBERS Life Insurance Co., CUMIS Insurance Society Inc. and CUMIS Specialty Insurance Co. Inc.

At the same time, A.M. Best has upgraded the long-term issuer credit rating to "bbb+" from "bbb" of CUNA Mutual Financial Group Inc.

The outlook of these ratings is stable.

A.M. Best said the ratings of CMFG Life Insurance reflect its strongest balance sheet strength, strong operating performance, neutral business profile and appropriate enterprise risk management.

Additionally, the ratings of CUMIS Insurance Society and CUMIS Specialty Insurance reflect their strongest balance sheet strength, adequate operating performance, neutral business profile and appropriate enterprise risk management.

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A.M. Best has upgraded the financial strength rating to A (Excellent) from A- (Excellent) and the long-term issuer credit rating to "a" from "a-" of Farmers Mutual Insurance Co. (WV).

The outlook of these ratings has been revised to stable from positive.

The ratings reflect Farmers Mutual's very strong balance sheet strength, strong operating performance, limited business profile and appropriate enterprise risk management, the rating agency said.

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A.M. Best has revised the outlooks to stable from negative and affirmed the financial strength ratings of A+ (Superior) and the long-term issuer credit ratings of "aa-" of Renaissance Reinsurance Ltd. and Renaissance Reinsurance of Europe Unlimited Co.

The rating agency also revised the outlooks to stable from negative and affirmed the long-term issuer credit rating of "a-" and all long-term issue credit ratings of RenaissanceRe Holdings Ltd.

In addition, A.M. Best revised the outlook of the long-term issuer credit rating to stable from negative and affirmed the financial strength rating of A (Excellent) and the long-term issuer credit rating of "a+" of DaVinci Reinsurance Ltd.

The outlook of the financial strength rating remains stable.

A.M. Best has revised the outlook to stable from negative and affirmed the long-term issuer credit rating of "bbb+" of DaVinci Re Holdings Ltd.

Concurrently, A.M. Best has upgraded the financial strength rating to A+ (Superior) from A (Excellent) and the long-term issuer credit rating to "aa-" from "a+" for Renaissance Reinsurance U.S. Inc.

The rating agency has also upgraded the financial strength rating to A+ (Superior) from A (Excellent) and the long-term issuer credit rating to "aa-" from "a" for RenaissanceRe Specialty U.S. Ltd.

The outlook of these ratings remains stable.

A.M. Best said the ratings upgrades reflect the companies' strategic importance to the group, complete integration into Renaissance Reinsurance's operations and the implicit support provided to the companies by their parent.

The ratings of Renaissance Reinsurance and DaVinci Reinsurance reflect the companies' strongest balance sheet strength, adequate operating performance, favorable business profile and very strong enterprise risk management, the rating agency said.

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A.M. Best has removed from under review with positive implications and affirmed the financial strength rating of B+ (Good) and the long-term issuer credit rating of "bbb-" of California Casualty Compensation Insurance Co.

The outlook assigned to these ratings is stable.

The rating agency said the ratings reflect the company's very strong balance sheet strength, marginal operating performance, very limited business profile and appropriate enterprise risk management.

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A.M. Best has assigned a financial strength rating of B++ (Good) and a long-term issuer credit rating of "bbb+" to BlueShore Insurance Co.

Concurrently, A.M. Best has assigned a financial strength rating of B++ (Good) and a long-term issuer credit rating of "bbb+" to Puritan Life Insurance Co. of America, the life insurance affiliate of BlueShore.

The outlooks assigned to these ratings are stable.

The ratings reflect BlueShore's very strong balance sheet strength, adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings of Puritan Life reflect its strong balance sheet strength, adequate operating performance, adequate business profile and appropriate enterprise risk management, A.M. Best said.