A.M. Best Affirms Credit Ratings of Assurant, Inc. and Its Property/Casualty Subsidiaries
By a
The ratings reflect Assurant's balance sheet strength, which
Somewhat offsetting these positive ratings factors are the property/casualty group's natural catastrophe exposure and its continued dependence on third-party reinsurance. These factors expose the property/casualty group's earnings to a degree of variability. However, these concerns are somewhat mitigated by its geographic spread of risk, management's use of risk management tools, including tracking aggregation of risks, and product design.
As of
Assurant also maintains a
credit facility.
The FSR of A (Excellent) and the Long-Term ICRs of "a+" have been affirmed with a stable outlook for the following property/casualty subsidiaries of
-- "bbb+" on
-- "bbb+" on
-- "bbb+" on
-- "bbb+" on
-- "bbb+" on
-- "bbb" on
-- "bbb-" on
The following Short-Term IR has been affirmed:
-- AMB-1 on commercial paper
The following indicative Long-Term IRs on securities available under the shelf registration have been affirmed with stable outlook:
-- "bbb+" on senior unsecured
-- "bbb" on subordinated debt
-- "bbb-" on preferred stock This press release relates to Credit Ratings that have been published on
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