A.M. Best Assigns Ratings to GuideOne National Insurance Company

OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best Co. has assigned a financial strength rating of A (Excellent) and an issuer credit rating of “a” to GuideOne National Insurance Company (GuideOne National) (West Des Moines, IA). The outlook assigned to both ratings is stable.

The assigned ratings reflect GuideOne National’s strong risk-adjusted capitalization and the explicit support provided by its parent, GuideOne Property & Casualty Insurance Company, which includes a significant internal reinsurance commitment. On April 27, 2012, GuideOne National became a member of the GuideOne Insurance Companies’ (GuideOne Companies) existing intercompany reinsurance pool, ceding 100% of its business to the pool and retaining 0% of the pool’s gross business.

GuideOne National will write related business to the members of GuideOne Companies, but on a non-admitted basis as these risks are anticipated to be somewhat more challenging than those in the standard market. Projected premium growth is reasonable and amply supported by GuideOne National’s capital position as well as that of GuideOne Property & Casualty Insurance Company.

The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Key criteria utilized include: “Risk Management and the Rating Process for Insurance Companies”; “Rating Members of Insurance Groups”; and “Understanding BCAR for Property/Casualty Insurers.” Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2012 by A.M. Best Company, Inc.ALL RIGHTS RESERVED.

A.M. Best Co.
Marc Liebowitz
Senior Financial Analyst
908-439-2200, ext. 5071
[email protected]
or
Gerard Altonji
Assistant Vice President
908-439-2200, ext. 5626
[email protected]
or
Rachelle Morrow
Senior Manager, Public Relations
908-439-2200, ext. 5378
[email protected]
or
Jim Peavy
Assistant Vice President, Public Relations
908-439-2200, ext. 5644
[email protected]

Source: A.M. Best Co.