A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and issuer credit rating (ICR) of “a-” of Crusader Insurance Company (Crusader). Concurrently, A.M. Best has affirmed the ICR of “bbb-” of Crusader’s parent holding company, Unico American Corporation (Unico) (both of Woodland Hills, CA) (NASDAQ: UNAM). The outlook for all ratings is stable.

These rating actions reflect Crusader’s excellent capitalization, solid underwriting and operating performance, strong regional market presence, as well as the financial flexibility afforded it through Unico.

These positive rating factors are somewhat offset by Crusader’s geographic concentration of risk, which exposes the company’s results to legislative and regulatory changes, as well as competitive market pressures. Despite these concerns, the outlook reflects Crusader’s favorable operating profitability and strong capitalization.

The principal methodology used in determining these ratings is Best’s Credit Rating Methodology -- Global Life and Non-Life Insurance Edition , which provides a comprehensive explanation of A.M. Best’s rating process and highlights the different rating criteria employed. Additional key criteria utilized include: “Risk Management and the Rating Process for Insurance Companies”; “Understanding BCAR for Property/Casualty Insurers”; “Natural Catastrophe Stress Test”; and “The Treatment of Terrorism Risk in the Rating Evaluation.” Methodologies can be found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

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