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Article: A.M. Best Revises Outlook to Negative for Battle Creek Mutual Insurance Company.
- Article from:
- Business Wire
- Article date:
- March 18, 2009
CopyrightCOPYRIGHT 2009 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 affirmed the financial strength rating of B+ (Good) and issuer credit rating of "bbb-" of Battle Creek Mutual Insurance Company (Battle Creek) (Battle Creek, NE). The outlook for both ratings has been revised to negative from stable.
The ratings reflect Battle Creek's adequate level of risk-adjusted capitalization, long-standing local market presence and conservative investment portfolio, which produced a steady stream of income and offset underwriting losses over several years. Additionally, the ratings also reflect management's corrective actions to improve profitability, such as rate revisions, cancellation of unprofitable ...