A.M. Best Co.

A.M. Best Downgrades and Withdraws Ratings of National States Insurance Company

Published in Elder Law Weekly, December 16th, 2009

A.M. Best Co. has downgraded the financial strength rating (FSR) to C- (Weak) from C++ (Marginal) and issuer credit rating (ICR) to "cc" from "b" of National States Insurance Company (National States) (St. Louis, MO). The outlook for both ratings is negative.

Subsequently, A.M. Best has withdrawn the ratings and assigned an NR-4 to the FSR and an "nr" to the ICR in response to company management's request to be removed from A.M. Best's interactive rating process.

The downgrades reflect National States' sizeable net operating loss incurred through third quarter 2009 and marginal risk-based capital position. The net loss resulted primarily from...

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Source: Elder Law Weekly (2009-12-16)

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