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

OLDWICK, N.J.--(BUSINESS WIRE)--
AM Best has upgraded the Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “aa-” (Superior) from “a+” (Excellent) 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.)

The ratings of C&F reflect the group’s 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.

C&F’s rating upgrades reflect improvement in the group’s business profile assessment. C&F has enhanced its scale and diversification materially in recent years through organic growth. Throughout this growth stage, the group has maintained solid underwriting performance measures with reducing volatility in most recent years. C&F’s ratings further reflect implicit and explicit support provided by its ultimate parent, Fairfax Financial Holdings Limited.

The ratings of Monitor Life reflect the company’s 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.

Monitor Life’s rating affirmations reflect the company’s strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR). However, absolute capital and surplus remains modest. Net premiums written and earnings will remain relatively modest over the near term as the company continues to build scale by introducing a limited portfolio of group life and accident and health products. Monitor Life has certificates of authority to write business in 50 states and the District of Columbia. The company distributes products through C&F’s nationwide distribution network, and C&F coordinates its ERM.

The FSR has been upgraded to A+ (Superior) from A (Excellent) and the Long-Term ICRs to “aa-” (Superior) from “a+” (Excellent) 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.

Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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Dan Hofmeister, CFA, FRM, CAIA

Associate Director

+1 908 882 1893

[email protected]

Brian Virostek
Financial Analyst

+1 908 882 2417

[email protected]

Christopher Sharkey
Associate Director, Public Relations

+1 908 882 2310

[email protected]

Al Slavin
Senior Public Relations Specialist

+1 908 882 2318

[email protected]

Source: AM Best