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FOR IMMEDIATE RELEASE
OLDWICK - MARCH 09, 2017 09:38 AM (EST)
A.M. Best has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a” to City National Insurance Company (City National) (Bedford, TX). Concurrently, A.M. Best has assigned an FSR of A (Excellent) and a Long-Term ICR of “a” to Independent Specialty Insurance Company (Independent Specialty) (Dover, DE). The outlook assigned to each FSR is stable, while the outlook assigned to each Long-Term ICR is positive. These companies are wholly owned subsidiaries of State National Companies, Inc. (State National) [NASDAQ:SNC].
The Credit Ratings (ratings) reflect City National’s and Independent Specialty’s roles as members of the State National Group. Factors supporting this relationship are common ultimate ownership and management along with a strategic alignment across the organization. In addition, explicit support is provided to City National and Independent Specialty through their participation in an inter-company pool with the members of the State National Group.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings.
A.M. Best is the world’s oldest and most authoritative insurance rating and information source.