Meadowbrook to Borrow State National's A-Rated Paper

Meadowbrook Insurance Group said it has entered into an agreement to use the A-rated policy issuance authority of State National Insurance Co. to support a portion of its business.The move comes after A.M. Best downgraded Meadowbrook’s financial strength rating to B++ (Good), from A- (Excellent). Meadowbrook said it has had a long and mutually beneficial relationship with State National.“I want to personally assure our agency partners, policyholders and shareholders that despite the challenges we encounter, Meadowbrook is committed to providing secure, quality insurance products. W...