Best’s News & Research Service - June 04, 2007 04:14 PM (EDT)
A.M. Best Upgrades and Assigns Ratings to Wellington Insurance Company
OLDWICK, N.J. //BestWire// - A.M. Best Co. has upgraded the financial strength rating (FSR) to B+ (Good) from B (Fair) and assigned an issuer credit rating (ICR) of “bbb-”to Wellington Insurance Company (Wellington) (Fort Worth, TX). The outlook for the FSR remains stable, and the outlook assigned to the ICR is stable.
The ratings reflect Wellington’s improved operating performance and reserve adequacy in recent years. These favorable results are partially offset by the volatility in Wellington’s operating results over the last five years and by significant premium fluctuations during that time. The company’s rating outlook is derived from its improved operating performance and its conservative investment strategy.
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