A.M. Best Assigns Ratings to Crestbrook Insurance Company

2009-09-22 16:59:03 -

A.M. Best Co. has assigned a financial strength rating of A+ (Superior) and issuer credit rating of “aa-” to Crestbrook Insurance Company (Crestbrook). The assigned outlook for both ratings is negative.

Crestbrook is a wholly owned, reinsured subsidiary of Nationwide Mutual Insurance Company (Nationwide Mutual). Both Crestbrook and Nationwide Mutual are members of the Nationwide Group (Nationwide).

All companies are domiciled

in Columbus, OH.

Crestbrook’s ratings reflect its projected levels of risk-adjusted capitalization and operating performance in addition to its reinsured affiliation with Nationwide Mutual.

The outlook reflects the potential impact on Crestbrook’s ratings from the challenges faced by Nationwide’s management to rebuild surplus in the wake of historical storm losses and the decline in risk-adjusted capitalization associated with the early 2009 privatization of Nationwide Financial Services, Inc.

Beginning September 2009, Nationwide plans to write personal lines coverages through Crestbrook to high net worth clientele in California under its new Allied Private Client program.

For Best’s Credit Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. .

The principal methodologies used in determining these ratings, including any additional methodologies and factors that may have been considered, can be found at www.ambest.com/ratings/methodology : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. .



Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. .


A.M. Best Co.AnalystsDavid Fidecaro,

908-439-2200, ext. 5420 david.fidecaro@ambest.com : mailto:david.fidecaro@ambest.com orRick
Decker, 908-439-2200, ext. 5423 rick.decker@ambest.com : mailto:rick.decker@ambest.com orPublic
RelationsJim Peavy, 908-439-2200, ext. 5644 james.peavy@ambest.com : mailto:james.peavy@ambest.com orRachelle
Morrow, 908-439-2200, ext. 5378 rachelle.morrow@ambest.com : mailto:rachelle.morrow@ambest.com