A.M. Best Co. has upgraded Crum & Forster Group's financial strength ratings to "A" from "A-minus." The rating agency also upgraded Crum & Forster Group's issuer credit ratings to "a" from "a-minus."

A.M. Best said the upgrade for Morristown, N.J.-based Crum & Forster, a wholly owned subsidiary of Fairfax Financial Holdings Ltd., reflects the insurance group's proven underwriting capability, favorable five-year accident year results, competitive expense ratio, significantly reduced legacy issues, diversified product portfolio and robust capital levels.

The rating agency said, "A.M. Best believes that Crum & Forster's well-managed and profitable specialty book of business, appropriate reduction of price competitive core business lines, and material catastrophe exposure reductions will serve the group well through the current soft pricing market conditions."

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.