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Insurance ratings actions: A.M. Best affirms Florida Family, CNO Financial

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Insurance ratings actions: A.M. Best affirms Florida Family, CNO Financial

S&P Global Market Intelligence compiles ratings actions in the insurance space daily through 5 p.m. ET. Actions after 5 p.m. ET will be included in the following day's roundup.

U.S. and Canada

A.M. Best affirmed the financial strength rating of A- and the long-term issuer credit rating of "a-" of Merrillville, Ind.-based American Inter-Fidelity Exchange.

The outlooks were revised to stable from negative, reflecting American Inter-Fidelity Exchange's improving capitalization and the rating agency's expectation for continuing solid underwriting profitability.

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

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A.M. Best affirmed the financial strength rating of A- and the long-term issuer credit rating of "a-" of Florida Family Insurance Co. and its subsidiary Florida Family Home Insurance Co.

The outlooks were revised to negative from stable, reflecting the downturn in operating performance in recent years.

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

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A.M. Best affirmed the long-term issuer credit ratings and the long-term issue credit ratings of "bbb-" of CNO Financial Group Inc.

The rating agency also affirmed the financial strength rating of A- and the long-term issuer credit ratings of "a-" of CNO Financial's life and health subsidiaries Bankers Life and Casualty Co., Colonial Penn Life Insurance Co., Bankers Conseco Life Insurance Co. and Washington National Insurance Co.

The outlook is stable.

The ratings reflect CNO Financial's very strong balance sheet, adequate operating performance, neutral business profile and appropriate enterprise risk management.

Europe

S&P Global Ratings withdrew its BBB+ long-term issuer credit and financial strength ratings on Sweden-based insurer Telia Forsakring AB at the company's request.

The outlook was stable at the time of withdrawal.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.

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