In connection with its revision of its outlook on AIG, A.M. Best Co. has affirmed the financial strength ratings of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Chartis US Insurance Group and its members and the Lexington Insurance Pool and its members, headquartered in Boston, Mass. The outlook for these ratings has also been revised to stable from negative.
Best also affirmed the FSR of ‘A’ (Excellent) and ICR of “a” of AIU Insurance Company (AIU); however, its outlook on these ratings remains negative.
In addition Best has affirmed the FSR of’ ‘B+’ (Good) and ICR of “bbb-” of American General Property Insurance Company (AGPIC) (headquartered in Houston, Texas). The outlook for these ratings has been revised to stable from negative.
In a related action Best withdrew the FSRs of ‘A’ (Excellent) and ICRs of “a” of Chartis Select Insurance Company and Landmark Insurance Company, due to the merger of these companies with and into their immediate parents, Lexington Insurance Company and National Union Insurance Company of Pittsburgh, Pa., respectively.
All of these companies are subsidiaries of American International Group, and are headquartered in New York, NY, unless otherwise noted.
The ratings of Chartis US reflect its “supportive level of risk-adjusted
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