-

AM Best Withdraws Credit Rating of State Auto Financial Corporation

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Long-Term Issuer Credit Rating of “bbb” (Good) of State Auto Financial Corporation (State Auto) (Columbus, OH). The outlook of this Credit Rating (rating) is stable. AM Best has withdrawn the rating as the company has requested to no longer participate in AM Best’s interactive rating process.

The ratings affirmation reflects State Auto’s status as a downstream holding company in the Liberty Mutual hierarchy, though currently there is no debt maintained at this entity.

This press release relates to Credit Ratings that have been published on AM 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 AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Raymond Thomson, CPCU, ARe, ARM
Associate Director
+1 908 439 2200, ext. 5621
raymond.thomson@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Michael Lagomarsino, CFA, FRM
Senior Director
+1 908 439 2200, ext. 5810
michael.lagomarsino@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 439 2200, ext. 5098
al.slavin@ambest.com

Industry:

AM Best

Release Versions
English
Hashtags
#insurance

Contacts

Raymond Thomson, CPCU, ARe, ARM
Associate Director
+1 908 439 2200, ext. 5621
raymond.thomson@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Michael Lagomarsino, CFA, FRM
Senior Director
+1 908 439 2200, ext. 5810
michael.lagomarsino@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 439 2200, ext. 5098
al.slavin@ambest.com

Social Media Profiles
AM Best / LinkedIn
More News From AM Best

Best’s Market Segment Report: AM Best Maintains Stable Outlook on Malaysia’s Non-Life Insurance Segment

SINGAPORE--(BUSINESS WIRE)--AM Best is maintaining a stable outlook on Malaysia’s non-life insurance segment, citing regulatory initiatives designed to increase insurance penetration and phased de-tariffication of motor and fire insurance. The Best’s Market Segment Report, “Market Segment Outlook: Malaysia Non-Life Insurance,” states that the non-life sector remains well-positioned for continued growth, even as the country’s real GDP growth is forecast to moderate in the near term amid global e...

AM Best Affirms Credit Ratings of SNIC Insurance B.S.C. (c)

LONDON--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of SNIC Insurance B.S.C. (c) (SNIC) (Bahrain). The outlook of these Credit Ratings (ratings) is negative. The ratings reflect SNIC’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and marginal enterprise risk management. SNIC’s balance sheet strength is underpinned...

Best’s Commentary: Relaxed Discount Rate Lowers Capital Pressures, Elevates Asset Liability Management Significance for South Korea’s Non-Life Insurers

HONG KONG--(BUSINESS WIRE)--The recent easing of discount rate regulations by South Korea’s financial authorities will alleviate pressure on the solvency position of the country’s non-life insurers, according to a new AM Best commentary. South Korea’s non-life insurers are facing increasing solvency pressures due to declining market interest rates, along with the tightening of the discount rate calculation for insurance liabilities by its domestic regulators. However, a recently announced plan...
Back to Newsroom