The “A” counterparty credit and financial strength ratings on the group of companies known collectively as the Ohio Casualty Insurance Co. Intercompany Pool were placed on CreditWatch with negative implications by S&P. The companies are American Fire & Casualty Co., Ohio Casualty Insurance Co., Ohio Security Insurance Co. and West American Insurance Co. The “BBB” counterparty credit rating on Ohio Casualty Corp. was also placed on CreditWatch with negative implications.
In a separate rating action, A.M. Best downgraded the financial strength of the Ohio Casualty Group from “A+” to “A.” Companies affected by the downgrade are American Fire and Casualty Co., Avomark Insurance Co., Ohio Casualty Insurance Co., Ohio Security Insurance Co. and West American Insurance Co.
Was this article valuable?
Here are more articles you may enjoy.
Allstate Seeking 34% Rate Hike on California Homeowners Insurance 
US P/C Underwriting Results: Two Years in a Row Over $20 Billion in the Red 
The Battle Over J&J’s Bankruptcy Plan to End Talc Lawsuits 
Homebuilders Cut on ‘Sluggish’ Housing Market, Florida Woes From This Issue
