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Article: A.M. Best Downgrades Rating of the North American Company for Life and Health Insurance of New York.
- Article from:
- Business Wire
- Article date:
- December 30, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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OLDWICK, N.J. -- A.M. Best Co. has downgraded the financial strength rating to A- (Excellent) from A (Excellent) of the North American Company for Life and Health Insurance of New York (NANY) (Garden City, New York). The rating outlook is stable. NANY represents the New York marketing arm of the Sammons Financial Group, Inc., a wholly owned subsidiary of Sammons Enterprises, Inc. The financial strength ratings of the remaining two life insurance affiliates, North American Company for Life and Health Insurance (Chicago, Illinois) and Midland National Life Insurance Company (Des Moines, Iowa), are unaffected by the rating action.
The rating action reflects NANY's ...