A.M. Best Comments on Credit Ratings of American Family Insurance Group Affiliates Following Announced Merger

OLDWICK, N.J.--()--A.M. Best has commented that the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” of the members of American Family Insurance Group (American Family) (Madison, WI) remain unchanged following its announced merger with Main Street America Group (MSA) (Jacksonville, FL).

On May 4, 2018, it was announced that each company’s board of directors has approved the merger transaction. This transaction does not involve a capital outlay by either organization. A.M. Best expects the merger to provide American Family with an expanded geographic footprint, line of business diversification and broader product offerings. Once the merger is completed, MSA is expected to continue to remain an autonomous operation, retaining its brand name and marketing affiliations. The transaction is expected to close by year-end 2018, pending approval by state regulators and the mutual members of both companies.

A.M. Best will continue to monitor the progress of the proposed merger and evaluate any developments and implications for impact on the Credit Ratings of American Family or its affiliates.

This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

A.M. Best
Daniel Heitlinger, +1-908-439-2200, ext. 5019
Financial Analyst
daniel.heitlinger@ambest.com
or
Robert Raber, +1-908-439-2200, ext. 5696
Associate Director
robert.raber@ambest.com
or
Christopher Sharkey, +1-908-439-2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, +1-908-439-2200, ext. 5644
Director, Public Relations
james.peavy@ambest.com

Contacts

A.M. Best
Daniel Heitlinger, +1-908-439-2200, ext. 5019
Financial Analyst
daniel.heitlinger@ambest.com
or
Robert Raber, +1-908-439-2200, ext. 5696
Associate Director
robert.raber@ambest.com
or
Christopher Sharkey, +1-908-439-2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, +1-908-439-2200, ext. 5644
Director, Public Relations
james.peavy@ambest.com