OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of C+ (Marginal) and the Long-Term Issuer Credit Rating of “b-” of Country-Wide Insurance Company (Country-Wide) (New York, NY).
The Credit Ratings (ratings) reflect Country-Wide’s balance sheet strength, which A.M. Best categorizes as weak, as well as its marginal operating performance, limited business profile and marginal enterprise risk management.
The revision of the outlooks reflects the improved operating performance as a result of underwriting initiatives taken by management to address rate and reserve adequacy. In addition, Country-Wide’s expense ratio has improved after changes were made to the commission structure. These changes have shown some improvement to the operating ratio in 2017 and through the first six months of 2018.
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.
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