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Press Release - SEPTEMBER 25, 2018 A.M. Best Withdraws Credit Ratings of National Insurance Company of Wisconsin, Inc. CONTACTS:
FOR IMMEDIATE RELEASE OLDWICK - SEPTEMBER 25, 2018 The ratings reflect NICW’s balance sheet strength, which A.M. Best categorizes as very strong, as well as the company’s marginal operating performance, limited business profile and marginal enterprise risk management. The stable outlooks consider NICW’s very strong balance sheet strength assessment. Following the final rating review, A.M. Best has decided to withdraw the ratings, largely reflecting NICW’s very limited remaining business operations. From a balance sheet perspective, loss reserves essentially were eliminated when the last of NICW’s long-term disability and long-term care reserves were reinsured over the past several years, thereby significantly reducing the remaining liability structure of the organization. This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases. A.M. Best is a global rating agency and information provider with a unique focus on the insurance industry. |