Best’s News & Research Service - April 13, 2017 11:54 AM (EDT)
A.M. Best Withdraws Credit Ratings of Lone Star National Insurance Company
- April 13, 2017 11:54 AM (EDT)
Oldwick //BestWire// - A.M. Best has withdrawn the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” of Lone Star National Insurance Company (LSN) (Indianapolis, IN).
Pan-American Life Insurance Group, Inc. completed the acquisition of LSN on March 31, 2017. Prior to the sale, the inter-company pooling agreement between LSN and its three former affiliates, Pennsylvania Lumbermens Mutual Insurance Company, Indiana Lumbermens Mutual Insurance Company (ILM) and ILM’s subsidiary, National Building Material Assurance Company, collectively known as Pennsylvania Lumbermens Group, was revised effective Dec. 1, 2016, making LSN a clean shell at the time of sale. The sale of LSN has resulted in A.M. Best withdrawing the ratings for this entity.
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.
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