A.M. Best Co. has placed the financial strength rating of A (Excellent) and the issuer credit rating of “a” of American Agricultural Insurance Company (AAIC) (Indianapolis) under review with negative implications.
The rating action follows uncertainty surrounding AAIC’s recent estimate of losses from Hurricanes Katrina and Rita, which have placed additional stress on its risk-based capital position.
AAIC’s financial strength and issuer credit ratings will remain under review pending discussions with management and a re-evaluation of capital requirements needed to support the company’s current rating.
Was this article valuable?
Here are more articles you may enjoy.
Twice Injured Firefighter Loses Second Workers’ Compensation Claim 
Cat Bonds Linked to Wildfires Lose ‘Once Untouchable’ Status 
Waymo to Update Software Across Fleet After Major Power Failure 
Rare Weather Warning Issued as Strong Gusts Fuel Colorado Wildfire Threats 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.