AM Best downgrades FSR of State Farm subsidiary Dover Bay Specialty to B++
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn

© 2024 Insider International Limited, company number 15236286, 4 Bouverie Street, London, EC4Y 8AX. Part of the Delinian Group. All rights reserved.


Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Cookies Settings

AM Best downgrades FSR of State Farm subsidiary Dover Bay Specialty to B++

Shelby Rosenberg
October 02, 2023
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
AM Best board room logo.jpg

AM Best has downgraded State Farm subsidiary Dover Bay Specialty’s financial strength rating to B++ from A and its long-term issuer credit rating to BBB+ from A.

The ratings agency attributed the downgrades to Dover Bay’s “persistent” underwriting losses since 2021 — at which time AM Best revised the outlooks to negative — caused by “numerous” weather-related losses in Louisiana, Texas and other Gulf Coast and...

Request a free trial:

Fuel a smarter strategy with our actionable market intelligence

    • Gain a competitive edge and accelerate decision-making
    • Be empowered by insights that transform confusion to clarity
    • Uncover growth opportunities and prepare for potential threats
Request a free trial Already a subscriber? Login now

Topics

NewsHomeowners' insurancePersonal autoState Farm
shelby rosenberg/shelby rosenberg ii us.png
Shelby Rosenberg
Reporter
Contact
Gift this article