Best’s News & Research Service - December 17, 2020 12:21 PM (EST)
AM Best Comments on Credit Ratings of FHM Insurance Company
- December 17, 2020 12:21 PM (EST)
Oldwick //BestWire// - AM Best has commented that the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of FHM Insurance Company (FHM) (Jacksonville, FL) remain unchanged following the pending acquisition of FHM Insurance Services (FHMIS), a Florida insurance agency and managing general agent of FHM, by BTW-LA, L.L.C. and in connection to LUBA Casualty Insurance Company.
While FHM may benefit over the long term potentially from additional financial resources and operational efficiencies, including expense savings through various consolidations as part of the LUBA organization, AM Best expects any near-term impact on FHM’s Credit Ratings to be modest. Following the close of the transaction, AM Best will continue to discuss its progress with management and assess its effects on FHM’s operations.
This press release relates to Credit Ratings that have been published on AM 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 AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.