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FOR IMMEDIATE RELEASE
OLDWICK - FEBRUARY 11, 2015 02:54 PM (EST)
A.M. Best has assigned a financial strength rating of A+ (Superior) and an issuer credit rating of "aa-" to Allied Insurance Company of America (Allied) (Columbus, OH). The outlook assigned to both ratings is stable.
The ratings reflect Allied's participation in the pooling agreement among Nationwide Mutual Insurance Company (Nationwide) and several of its subsidiary companies, whereby Allied cedes 100% of all premiums and liabilities to Nationwide. Allied commenced writing small commercial lines products in January 2015 in various geographic locations.
Given the existence of the pooling agreement, any potential future rating movement for Allied would be dependent on the fortunes of Nationwide and the other pool members.
The methodology used in determining these ratings is Best's Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best's rating process and contains the different rating criteria employed in the rating process. Best's Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
Key insurance criteria reports utilized:
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 visit A.M. Best's Ratings & Criteria Center.
A.M. Best Company is the world's oldest and most authoritative insurance rating and information source.