Mendakota Insurance Company

Diposting oleh Admin on Kamis, 23 November 2017

OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. has aloof the ratings of Kingsway Banking Services Inc. (Canada), Kingsway America Inc., Mendota Group and its members, Mendota Allowance Company and its wholly endemic subsidiary, Mendakota Allowance Company (all domiciled in St. Paul, MN), as able-bodied as Kingsway Reinsurance Corporation (Barbados) and Universal Casualty Company. These withdrawals chase Kingsway Banking Services Inc.’s appeal to no best participate in A.M. Best’s alternate appraisement process. All companies are domiciled in Elk Grove Village, IL, unless contrarily specified. (See beneath for a abundant advertisement of the companies and ratings.)

Image Source: obrella.com

The issuer acclaim ratings of “c” accept been aloof for Kingsway Banking Services Inc. and Kingsway America Inc.

The banking backbone ratings of C (Marginal) and issuer acclaim ratings of “b-”have been aloof for Mendota Group, Mendota Allowance Company, Mendakota Allowance Company and Kingsway Reinsurance Corporation.

The banking backbone appraisement of D (Poor) and the issuer acclaim appraisement of “c” accept been aloof for Universal Casualty Company.

Image Source: samcoagency.com

The afterward debt ratings accept been withdrawn:

Kingsway Banking Services Inc.—

-- “c” on CAD 100 actor 6% chief apart debentures, due 2012 (currently CAD 1.7 actor outstanding)

Image Source: mendotamutual.com

Kingsway America Inc.—

-- “c” on USD 125 actor 7.5% chief apart notes, due 2014 (currently USD 27 actor outstanding)

-- “c” on USD 74.1 actor 7.12% chief apart notes, due 2015 (currently USD 19.7 actor of the accompanying KLROC debt is in the control of non-KFSI owners)

Image Source: twimg.com

The arch alignment acclimated in free these ratings is Best’s Acclaim Appraisement Alignment - Global Life and Non-Life Allowance Edition, which provides a absolute account of A.M. Best’s appraisement action and highlights the altered appraisement belief employed. Methodologies can be begin at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is the world’s oldest and best accurate allowance appraisement and advice source. For added information, appointment www.ambest.com.