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FOR IMMEDIATE RELEASE
OLDWICK, N.J. - SEPTEMBER 16, 2008 12:00 AM (EDT)
A.M. Best Co. has commented that the financial strength rating of A++ (Superior) and issuer credit rating of "aa+" of Kansas Bankers Surety Company (KBS) (Topeka, KS) are unchanged following the announcement that the company will no longer offer a product called "bank deposit guaranty bonds". The outlook for both ratings is stable.
Although this business represents a large portion of KBS' overall book of business and the company has experienced above average losses in 2008, the ratings continue to recognize the support and financial flexibility afforded by its ultimate shareholder and parent, Berkshire Hathaway Inc.
For Best's Ratings, an overview of the rating process and rating methodologies, please visit Best's Rating Center.
Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers.