Yasuda Gets Upgraded Best Rating to A+

Despite an increased combined ratio, poor underwriting performance, large claim losses, and an inadequately priced California work comp business, A.M. Best Co. upgraded the financial strength rating yesterday for The Yasuda Fire and Marine Insurance Company of America (Yasuda America), New York, from A (Excellent) to A+ (Superior). The company has been assigned a financial size category of VII. While Best says that the rating reflects Yasuda America's excellent capitalization and historically profitable operations, it appears that the rating is heavily reliant on financial support and commit...