S&P ups Acuity

Standard & Poor's said it raised its counterparty credit and financial strength ratings on Acuity a Mutual Insurance Co. to A+ from A.

The outlook is stable.

The agency said that the rating action reflects its view that Acuity has significantly developed and strengthened its market position in commercial and personal lines insurance across its top five key states while maintaining solid operating and underwriting performance as well as very strong capitalization.

Somewhat offsetting these positive factors is S&P's belief that current market competition will slow the company's top- and bottom-line growth and limit the company's ability to capture larger market shares in its top 10 states of operation, which would provide the company with the diversification of risk expected for a higher rating.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.