Moody’s Investors Service announced that it has affirmed the A3 insurance financial strength ratings of the property/casualty members of the Great American Insurance Group, a subsidiary of the Cincinnati, Ohio-based American Financial Group.
The property and casualty ratings carry a stable outlook, Moody’s said in its review, which began Nov. 13, 2002.
Moody’s noted that the pending auto insurance spin-off reduces an incremental source of diversification for the non-life business, which will now focus on various specialty commercial classes.
The rating agency said AFG’s shift in focus to the specialty commercial lines market will serve it well, thanks to that market’s escalating prices.
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