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AM Best Affirms Credit Ratings of Crum & Forster Insurance Group’s Members and Monitor Life Insurance Company of New York

Business Wire

OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the members of Crum & Forster Insurance Group (C&F). Concurrently, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a+” (Excellent) of Monitor Life Insurance Company of New York (Monitor Life) (New York, NY). The outlook of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the companies and ratings.)

The ratings of C&F reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management (ERM). The ratings also reflect the benefits the group derives from its role within the larger Fairfax Financial Holdings Limited enterprise (Fairfax).

C&F’s favorable business profile is supported by its significant and expanding presence in the commercial insurance segment, particularly in the accident and health lines of business, which drove the group’s premium growth in 2025. Despite large dividend payouts over the years, the company’s stable and profitable underwriting, coupled with investment income and capital gains, have led to a stable risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), which remains in the very strong range.

As part of the Fairfax group, C&F benefits from capital management services, additional layers of ERM oversight and shared technology development.

The ratings of Monitor Life reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate ERM. The ratings also reflect the financial support and strategic importance to its parent, United States Fire Insurance Company, part of C&F.

The affirmations of the ratings for Monitor Life reflect its strongest level of risk-adjusted capitalization as measured by BCAR, which are partially offset by a modest level of absolute capital and surplus. Net premiums written and earnings are expected to remain relatively modest over the short term as the company continues to build scale. Monitor Life holds certificates of authority to write business in 50 states and the District of Columbia, as well as distributes products through C&F’s national distribution network. C&F coordinates its ERM.

The FSR of A+ (Superior) and the Long-Term ICRs of “aa-” (Superior) have been affirmed with stable outlooks for the following members of Crum & Forster Insurance Group:

Crum & Forster Indemnity Company
Crum and Forster Insurance Company
The North River Insurance Company
United States Fire Insurance Company
Crum & Forster Specialty Insurance Company
First Mercury Insurance Company
American Underwriters Insurance Company
Seneca Insurance Company, Inc.
Crum & Forster SPC
Seneca Specialty Insurance Company
MTAW Insurance Company

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.