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A.M. Best Co.
A.M. Best Downgrades Ratings of United Security Life and Health Insurance Company
February 27th, 2009
A.M. Best Co. has downgraded the financial strength rating to C++ (Marginal) from B- (Fair) and the issuer credit rating to “b” from “bb-” on United Security Life and Health Insurance Company (USL&H) (Bedford Park, IL). The outlook for both ratings has been revised to negative from stable. The rating downgrades reflect the anticipated significant deterioration in USL&H’s risk-based capital position in 2008 caused by a large operating loss. Additionally, common and preferred equities represent a high percentage of its capital and surplus. Price declines and realized capital losses in these holdings in 2008 further weakened the company’s capital position. The third and...
Source: Health Business Week (2009-02-27)
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