AM Best has withdrawn the credit ratings of United India Insurance Company Limited at that company’s request after downgrading the insurer’s financial strength rating (FSR) and long-term issuer credit rating (ICR).
The ratings firm downgraded United India’s to C+ (marginal) from C++ (marginal), and its long-term ICR to “b-” from “b+.” The outlook of the FSR has been also been revised to “negative” from “stable” while the outlook of the Long-Term ICR is “negative.”
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