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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,979.13 +59.54 0.35%
S&P 500 1,986.51 +4.91 0.25%
NASDAQ 4,526.4820 -1.0320 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs