OLDWICK, N.J.–(BUSINESS WIRE)–#insurance—AM Best has commented that the Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Rating of “a-” (Excellent) of Reserve National Insurance Company (Reserve National) (Chicago, IL) remain under review with developing implications following the closing of the sale of Reserve National between Kemper Corporation and Medical Mutual of Ohio.
On Dec. 1, 2022, Medical Mutual of Ohio closed on the acquisition of Reserve National from Kemper Corporation. The acquisition, previously announced August 2022, received all required regulatory approvals necessary for its completion. AM Best notes that a resolution of the under review with developing implications status is expected following an evaluation of the company’s updated financial position, as well as continued discussions with Reserve National and the new parent on the strategic importance of the operating entity.
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