AM Best Downgrades Credit Ratings of Nationwide Mutual Insurance Company and Its Property/Casualty Subsidiaries; Affirms Credit Ratings of Life Affiliates
In addition, AM Best has downgraded the Long-Term Issue Credit Ratings (Long-Term IR) to “a-” (Excellent) from “a” (Excellent) of the surplus notes issued by Nationwide Mutual Insurance Company.
- In addition, AM Best has downgraded the Long-Term Issue Credit Ratings (Long-Term IR) to “a-” (Excellent) from “a” (Excellent) of the surplus notes issued by Nationwide Mutual Insurance Company.
- Concurrently, AM Best has affirmed the FSR of A+ (Superior) and the Long-Term ICRs of “aa-” (Superior) of Nationwide Life Insurance Company and its subsidiaries, Nationwide Life and Annuity Insurance Company and Jefferson National Life Insurance Company.
- These companies are the key life/annuity subsidiaries of Nationwide Financial Services Inc. (NFS), and collectively known as Nationwide Life Group.
- Finally, AM Best has affirmed the FSR of B++ (Good) and the Long-Term ICR of “bbb” (Good) of Titan Insurance Company (Titan).