Best Affirms Safeco's

Following Safeco Corp.'s (NASDAQ:SAFC) announced loss-reserve strengthening and subsequent discussions with management, A.M. Best Co. has affirmed the financial strength rating of A (Excellent) for the property/casualty companies while maintaining a negative outlook. Additionally, the existing ratings and negative outlook remain in effect for Safeco's debt instruments. The group financial strength rating of A (Excellent) on Safeco's life/health companies remains unaffected. The reserve strengthening that was based on an independent actuarial study of the property/casualty reserve adequacy r...