A.M. Best Co. has placed the financial strength rating (FSR) of A (Excellent) and the issuer credit ratings (ICR) of "a" of QBE Re Group -- U.S. (QBE Re) and its subsidiaries under review with negative implications.
Thr rating action follows the announcement that QBE Reinsurance Corp. of Philadelphia intends to acquire 100% of the outstanding stock of National Farmers Union Property and Casualty Company and its wholly owned subsidiary, United Security Insurance Company (both domiciled in Aurora, CO). QBE Re's ratings will remain under review pending A.M. Best's review of QBE Re's risk-adjus...
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