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Insurance ratings actions: A.M. Best affirms Triple-S Management, units

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 has affirmed the long-term issuer credit rating of "bb+" of Triple-S Management Corp.

A.M. Best has also affirmed the financial strength ratings of B++ (Good) and the long-term issuer credit ratings of "bbb+" for Triple-S Salud Inc. and its affiliate, Triple-S Vida Inc. The rating agency has further affirmed the financial strength rating of B++ (Good) and the long-term issuer credit rating of "bbb" for Triple-S Blue Inc.

The outlook is stable.

The ratings of Triple-S Salud and Triple-S Vida reflect their strong balance sheet strength, adequate operating performance, limited business profile and appropriate enterprise risk management, A.M. Best said. The ratings of Triple-S Blue reflect its adequate balance sheet strength, marginal operating performance, limited business profile and appropriate enterprise risk management.

Property and casualty

A.M. Best has revised the outlooks to positive from stable and affirmed the financial strength ratings of A- (Excellent) and long-term issuer credit ratings of "a-" for Employers Insurance Co. of Nevada, Employers Compensation Insurance Co., Employers Assurance Co. and Employers Preferred Insurance Co.

At the same time, A.M. Best has revised the outlook to positive from stable and affirmed the long-term issuer credit rating of "bbb-" of the parent company, Employers Holdings Inc.

The rating agency said the ratings reflect the strongest balance sheet strength of Employers Holdings' subsidiaries, as well as their adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings also reflect the financial flexibility afforded by Employers Holdings.

The revised outlooks reflect improving levels of risk-adjusted capitalization of Employers Holdings' subsidiaries, A.M. Best said.

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A.M. Best has assigned a financial strength rating of A (Excellent) and a long-term issuer credit rating of "a+" to Farmers Union Mutual Insurance Co. of North Dakota and Farmers Union Mutual Insurance Co. of Arkansas.

The outlook of these ratings is stable.

The ratings reflect the strategic alliance and the pooling agreement between the two companies. The ratings also reflect a consolidated view of the companies' strongest balance sheet strength, strong operating performance, neutral business profile and appropriate enterprise risk management, A.M. Best said.

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A.M. Best has affirmed the financial strength ratings of A (Excellent) and the long-term issuer credit ratings of "a" of Queen City Assurance Inc. and Vine Court Assurance Inc.

The outlook is stable.

The ratings reflect the companies' strongest balance sheet strength, strong operating performance, limited business profile and appropriate enterprise risk management.

The ratings are based on the two companies' individual and combined profiles as single-parent captives of Kroger Co.