Fitch Ratings has affirmed the ‘BBB’ Issuer Default Rating of LandAmerica Financial Group (LFG) and the ‘A-‘ Insurer Financial Strength Ratings of its insurance subsidiaries with a stable outlook. Fitch cited LandAmerica’s “strong competitive position with the third largest market share of approximately 19 percent, as well as the company’s high-quality, liquid investment portfolio,” as backing the assigned ratings.
A.M. Best Co. has withdrawn the financial strength rating (FSR) of “A+” (Superior) and the issuer credit rating (ICR) of “aa” of Nebraska-based Jefferson Pilot Financial Insurance Company. “These rating actions are a result of the merger of JP Financial into its affiliate, The Lincoln National Life Insurance Company” of Fort Wayne Ind., Best indicated.
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