AM Best Revises Issuer Credit Rating Outlook to Negative for Westfield Insurance Company and Affiliates
AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) of Westfield Insurance Company and its affiliates, collectively known as Westfield Group (Westfield).
- AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) of Westfield Insurance Company and its affiliates, collectively known as Westfield Group (Westfield).
- All companies are wholly owned subsidiaries of Ohio Farmers Insurance Company, the ultimate parent, and are domiciled in Westfield Center, OH.
- Westfield expects growing business diversification to reduce its exposure to weather-related events and have further positive impact on operating results.
- The FSR of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) have been affirmed with the Long-Term ICR outlook revised to negative from stable, while the outlook of the FSR is stable for the following affiliates of Westfield Insurance Company: