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AM Best Removes From Under Review With Positive Implications and Upgrades Credit Ratings of Members of AmFed Insurance Group.

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ENPNewswire-April 21, 2022--AM Best Removes From Under Review With Positive Implications and Upgrades Credit Ratings of Members of AmFed Insurance Group

(C)2022 ENPublishing - http://www.enpublishing.co.uk

Release date- 20042022 - AM Best has removed from under review with positive implications and upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to 'a' (Excellent) from 'a-' (Excellent) of AmFed National Insurance Company and its 100% reinsured subsidiaries, AmFed Casualty Insurance Company and AmFed Advantage Insurance Company.

The outlook assigned to these Credit Ratings (ratings) is stable. These companies are domiciled in Ridgeland, MS and collectively referred to as AmFed Insurance Group (AmFed).

The ratings reflect AmFed's balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings also consider, in the form of lift, the support it receives from the lead rating unit, Ascot Group Limited (Ascot). The rating lift is indicative of the strong financial support through a capital maintenance agreement and increased scale of operations that includes but is not limited to, back office support, investment, risk management and distribution that comes from the expertise of the larger Ascot organization.

Ascot Bermuda Limited (Bermuda), as well as Ascot Insurance Company and Ascot Specialty Insurance Company (both headquartered in New York, NY), are operating subsidiaries of Ascot Group Limited...

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