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.
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