This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

A.M. Best Upgrades Ratings Of National Security Insurance Company

A.M. Best Co. has upgraded the financial strength rating (FSR) to B+ (Good) from B (Fair) and the issuer credit rating to “bbb-“ from “bb+” of National Security Insurance Company (NSIC). The outlook for both ratings is stable.

A.M. Best also has affirmed the FSR of B++ (Good) and ICR of “bbb” of National Security Fire and Casualty Company (NSFC). The outlook for these ratings is negative. In addition, A.M. Best has affirmed the FSR of B+ (Good) and ICR of “bbb-” of NSFC’s wholly owned subsidiary, Omega One Insurance Company, Inc. (Omega). The outlook for both ratings is stable.

Concurrently, A.M. Best has affirmed the ICR of “bb” of the parent holding company, The National Security Group, Inc. (NSGI) (Wilmington, DE) [NASDAQ: NSEC]. The outlook for this rating is negative. All companies are domiciled in Elba, AL, unless otherwise specified.

The rating actions taken on NSIC reflect A.M. Best’s belief that the financial resources of the life company will not be materially impacted by the Mobile Attic, Inc. lawsuit settlement. These rating actions also reflect NSIC’s favorable stand-alone risk-adjusted capitalization, modestly increasing capital trends, a generally conservative fixed-income investment portfolio, which is currently in a unrealized gain position and its positive—albeit modest—overall net operating performance.

These positive factors are offset by NSIC’s limited geographic profile and the challenges it faces to manage its modest capital levels, sustain and improve its operating performance and reverse declining trends in its net premium growth.

Given the recent positive movement on NSIC’s ratings, A.M. Best believes the company is well positioned at its current rating level. Future positive actions could occur on NSIC’s ratings from positive movement in the parent’s ratings. Key rating factors that could result in negative actions on the company’s ratings include a meaningful erosion of absolute and/or risk-adjusted capitalization, a deterioration of operating performance below A.M. Best’s expectations or negative movement in the parent and/or property and casualty affiliates’ ratings.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,619.51 +23.16 0.13%
S&P 500 2,063.12 +5.48 0.27%
NASDAQ 4,986.8670 +28.3990 0.57%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs