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Home>A.M. Best Affirms Credits Ratings of The Allstate Corporation and Its Key Subsidiaries; Upgrades Credit Ratings of Allstate New Jersey Insurance Group Members

A.M. Best Affirms Credits Ratings of The Allstate Corporation and Its Key Subsidiaries; Upgrades Credit Ratings of Allstate New Jersey Insurance Group Members

A.M. Best Affirms Credits Ratings of The Allstate Corporation and Its Key Subsidiaries; Upgrades Credit Ratings of Allstate New Jersey Insurance Group Members

10/03/2017

A.M. Best Affirms Credits Ratings of The Allstate Corporation and Its Key Subsidiaries; Upgrades Credit Ratings of Allstate New Jersey Insurance Group Members

A.M. Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” of the members of Allstate Insurance Group (Allstate). Concurrently, A.M. Best has affirmed the FSR of A+ (Superior) and the Long-Term ICRs of “aa-” of the key life/health members of the Allstate Financial Companies (Allstate Financial).

Concurrently, A.M. Best has upgraded the FSR to A (Excellent) from A- (Excellent) and the Long-Term ICRs to “a” from “a-” of the members of Allstate New Jersey Insurance Group (collectively referred to as Allstate New Jersey) (headquartered in Bridgewater, NJ).

Additionally, A.M. Best has affirmed the FSR of A (Excellent) and the Long-Term ICRs of “a” of First Colonial Insurance Company (First Colonial) (headquartered in Jacksonville, FL).

Lastly, A.M. Best has affirmed the Long-Term ICR of “a-” and all Long- and Short-Term Issue Credit Ratings (Long-Term IR; Short-Term IR) of the ultimate parent, The Allstate Corporation (Allcorp).

The outlook of all these Credit Ratings (ratings) is stable. All the above named companies are headquartered in Northbrook, IL, except where specified. (See link below for a detailed listing of the companies and ratings.)

Allstate’s strong capital position reflects its favorable earnings, which have contributed to organic surplus growth in each of the past five years on a pre-dividend basis. Allstate’s operating results continue to be favorable due to enhanced pricing sophistication and improved loss cost and expense management while maintaining underwriting discipline. Additionally, Allstate has a significant market presence and strong overall business profile as one of the largest personal lines writers in the United States. Allstate also benefits from the additional liquidity provided by Allcorp and its subsidiary, Kennett Capital, Inc., and through access to capital markets, lines of credit and its commercial paper program. The group’s favorable margins are attributable to enhanced pricing accuracy and risk optimization, along with its solid core underwriting capabilities, prudent capital management and sizable investment income. Lastly, underwriting results also reflect the favorable impact of Allstate’s ongoing risk management actions, various expense management initiatives and its significant investment in technology.

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