OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has placed under review with positive implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of United Frontier Mutual Insurance Company (United Frontier) (Lockport, NY).
The Credit Ratings (ratings) were placed under review with positive implications based on an affiliation agreement that United Frontier executed on March 23, 2023. The affiliation, with common board control and shared resources, is expected to strengthen the company's overall position. The under review status also considers strategic business initiatives that are expected to be implemented in the near term. The transaction is subject to regulatory approval and expected to close during the first half of 2023. The ratings will remain under review until close and AM Best has completed its review of the full impact of this transaction on the overall organization. AM Best will continue to monitor the transaction as it evolves and provide updates as conditions warrant.
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.
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