S&P’s Cuts National Heritage Ins Co. Rating
Standard & Poor’s has lowered its counterparty credit and insurer financial strength ratings on National Heritage Insurance Co. (Texas) (National Heritage TX) to “Bpi” from “BBpi”.
“The ratings actions are based on National Heritage TX’s weak capitalization, high geographic and product concentrations, and volatile earnings,” said Standard & Poor’s credit analyst Allison MacCullough.
National Heritage TX is licensed and operates only in Texas. Its major line of business is group accident and health, and it is not a member of any insurance group. The company commenced operations in 1976.
Popular Today
- Jury Awards $80M to 3 Former Zurich NA Employees for Wrongful Termination
- Growing Progressive Set to Hire 10,000 for Claims, IT, Other Roles
- Chubb CEO Greenberg: Some Financial Lines Underwriting Practices ‘Simply Dumb’
- Apollo Accused in Lawsuit of Illegal Human Life Wagering Scheme
Popular This Month