A.M. Best Downgrades Issuer Credit Ratings of Grinnell Mutual Reinsurance Company and Its Subsidiary [Manufacturing Close – Up]
The outlook for the ICR has been revised to stable from negative, while the outlook for the FSR is stable.
The downgrading of the ICRs is based on the deterioration in
Partially offsetting these positive rating factors is
Negative rating actions could occur with a continuation of the unfavorable underwriting results, operating earnings and/or surplus deterioration that has occurred in recent years, which were driven by storm losses on
The methodology used in determining these ratings is Best's Credit Rating Methodology, which provides a comprehensive explanation of
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