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Insurance ratings actions, July 14


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Insurance ratings actions, July 14

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

Life and health

A.M.Best affirmedthe A+ financial strength ratings and "aa-" issuer credit ratings of and North American Co. for Life andHealth Insurance.

The ratingagency also affirmed the "a-" issuer credit rating for Sammons FinancialGroup Inc., which is an intermediate holding company for Midland National and NorthAmerican, and is indirectly owned by SammonsEnterprises Inc.

The outlookfor each rating is stable.

A.M.Best said the affirmation of the ratings reflects the group's sufficient risk-adjustedcapitalization, as measured by A.M. Best's capital adequacy ratio, to support itsinsurance and business risks.


A.M.Best upgradedthe issuer credit ratings to "a+" from "a" and affirmed theA financial strength ratings of FirstFinancial Insurance Co., its subsidiary, Alamance Insurance Co., and its two affiliates, and

The companiesare members of IFG Cos.

The outlookfor the issuer credit rating has been revised to stable from positive, while theoutlook for the financial strength rating remains stable.

A.M.Best said the ratings are based on the consolidation of the group members and reflectthe group's strong balance sheet, favorable underwriting and operating profitability,and sustained surplus growth. The ratings also recognize IFG's excellent geographicspread of risk, effective use of technology and multiple distribution channels,and limited catastrophe exposure.

A.M.Best affirmedthe A financial strength ratings and "a" issuer credit ratings for and anaffiliate, MAPFRE Pan American InsuranceCo.

The outlookfor each rating is stable.

A.M.Best said the ratings reflect the group's excellent capitalization, solid operatingperformance, long history of profitable underwriting results, established marketpresence within Puerto Rico and strong risk management practices. The ratings alsoreflect its strong brand-name recognition within the Puerto Rico market and integralrole as a member of MAPFRE SA.