Outlooks Revised to Negative for Iowa’s United Fire Group, Property/Casualty Subs December 21, 2020
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” of the property/casualty (P/C) subsidiaries of United Fire Group Inc. (UFG) [NASDAQ: UFCS] (collectively known as United Fire & Casualty Group), headquartered in Cedar Rapids, Iowa.
Concurrently, AM Best has revised the outlook to negative from stable and affirmed the Long-Term ICR of “bbb” of UFG.
AM Best said the ratings reflect United Fire & Casualty Group’s balance sheet strength, which is categorized as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
AM Best Revises Outlooks to Negative for United Fire Group, Inc and Its Property/Casualty Subsidiaries businesswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesswire.com Daily Mail and Mail on Sunday newspapers.