AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a- to AmFed Advantage Insurance Company (AmFed Advantage) (Ridgeland, MS). The outlook assigned to these Credit Ratings (ratings) is stable. AmFed Advantage is a wholly owned subsidiary of AmFed National Insurance Company (AmFed National), which is the lead member of AmFed Insurance Group.
The ratings of AmFed Advantage reflect the consolidated balance sheet strength of AmFed Insurance Group, which AM Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
The rating assignments reflect AmFed Advantages role as a member of AmFed Insurance Group. Explicit support is provided to AmFed Advantage through its participation in an inter-company reinsurance agreement with AmFed National. AmFed Advantage will provide workers compensation coverage, primarily in Mississippi and Tennessee.
This press release relates to Credit Ratings that have been published on AM Bests 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 AM Bests Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Bests Credit Ratings. For information on the proper media use of Bests Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Bests Credit Ratings and AM Best Rating Action Press Releases.
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