Abstract: A.M. Best Co. assigned different insurance ratings to the different insurance subsidiaries of Nationwide Group. These ratings revealed significant facts about the capitalization and market position of these Nationwide Insurance Companies.
Insurance Ratings for Nationwide Group are provided by A.M Best Co., the global insurance rating organization. These insurance ratings give a clear idea about the financial performance of all the insurance subsidiaries of Nationwide Financial Services, Inc.
A.M. Best Co. assigned different insurance ratings separately to all the subsidiaries of Nationwide Financial Services Inc., including Nationwide Mutual Insurance Company, Nationwide Life Insurance Company of America and Nationwide Life and Annuity Company of America.
The Insurance Ratings assigned by A.M. Best Co. to the different health subsidiaries of Nationwide Group are the following:
The core insurance subsidiaries of Nationwide Financial Services got “A+” in Financial Strength Rating.
A.M. Best Co. assigned “aa-” in Issuer Credit Rating of these subsidiary companies of Nationwide Financial Services.
Nationwide Life Insurance Company received “a-”, in its' Issuer Credit Rating.
Nationwide Life Insurance Company of America, received “A+” in its' Financial Strength Rating. But, later, A.M. Best Co. downgraded this rating to “A”
This Nationwide Life Insurance Company of America got “aa-” in its' Issuer Credit Rating. But, later this rating was downgraded to the level of “a+” by A.M. Best Co..
The Nationwide Life and Annuity Company of America received “A+” in Financial Strength Rating and received “aa-” in its' Issuer Credit Rating. But, both these ratings were downgraded afterwards. After down gradation, the Financial Strength Rating of this company became “A” and the Issuer Credit Rating came down to the level of “a+”.
It should be mentioned here, that, the Nationwide Life and Annuity Company of America and Nationwide Life Insurance Company of America were earlier known as Provident Mutual Life and Annuity Company of America and Provident Mutual Life Insurance Company of America, respectively.
The facts about the Nationwide Insurance Companies, revealed by the insurance ratings are the following:
The ratings reveal, that insurance subsidiaries of Nationwide Financial Services have established their market presence in multiple product lines.
The Nationwide Insurance Companies have successfully established a strong Brand Name.
The companies possess an adequate risk-adjusted capitalization.
The insurance companies of Nationwide Group generate solid operating revenues and maintain a moderate level of financial leverage.