Employers Re Downgraded by AM Best

A.M. Best Co. has downgraded the financial strength rating to A- (Excellent) from A (Excellent) of Employers Reassurance Corporation (ERAC) (Overland Park, KS). The rating outlook is stable. The rating reflects ERAC's superior stand-alone risk-adjusted capitalization and favorable liquidity position. Offsetting factors include weak historical financial performance and withdrawal from the life reinsurance marketplace. ERAC plans to continue offering certain health reinsurance business, principally long-term care, but may also include accident, disability and behavioral health products. Howev...