AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of 'aa' (Superior) of the members of
Additionally, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICRs of 'a' (Excellent) of the members of
The ratings of Allstate reflect its balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and very strong enterprise risk management (ERM). The group's favorable market position in the private passenger auto and homeowners markets, as well as its strong geographic reach and distribution capabilities are the underpinnings for its historically profitable operations and favorable risk-adjusted capitalization. Allstate's trend of profitable growth is supported by its underwriting expertise and proactive pricing actions, as well as its ongoing expense efficiencies. 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. Allstate's approach to innovation across its operations is a driver of its success competing in its core lines of business. Through the company's forthcoming divestiture of its life and annuity operations and its recent acquisitions, management has demonstrated its focus on its long-term growth strategy, enhancing scale and overall diversification. However, despite Allstate's very strong risk management practices and robust reinsurance program, the company remains inherently exposed to natural disasters occurring throughout
The ratings of Allstate New Jersey reflect its balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate ERM. Additionally, the ratings recognize the financial strength, ERM and continued support of
The ratings of Castle Key reflect its balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business profile and appropriate ERM. Castle Key's risk-adjusted capital, as measured by BCAR, is currently adequate, reflecting growth of its business. AM Best notes that the company's limited business profile primarily reflects its geographic concentration of property/casualty (P/C) business written in
The ratings of
A complete listing of
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