JULY 14, 2016 12:32 PM (EDT)
A.M. Best Upgrades Issuer Credit Ratings of Members of the IFG Companies
FOR IMMEDIATE RELEASE
OLDWICK - JULY 14, 2016 12:32 PM (EDT)
The ratings are based on the consolidation of the group members and reflect the group’s strong balance sheet, favorable underwriting and operating profitability, and sustained surplus growth. The ratings also recognize IFG’s excellent geographic spread of risk, effective use of technology and multiple distribution channels, and limited catastrophe exposure. These positive rating factors are partially offset by continued constraints on growth due to conditions in select markets.
A.M. Best believes IFG is well-positioned at its current rating level for the near to midterm, although positive rating action may occur if IFG sustains underwriting and operating results that outperform the composite average over the longer term. However, negative rating action could occur if there is a material decline in risk-adjusted capitalization or deterioration in financial performance.
This press release relates to rating(s) 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.
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