AM Best Downgrades American Southern Group Credit Ratings to A-

Key Facts

AM Best has downgraded the Financial Strength Rating of American Southern Insurance Company and its subsidiary to A- (Excellent) from A. This rating action reflects a shift in the credit profile of the group's members, which could potentially impact capital costs and policyholder confidence. Concurrently, the agency affirmed the Long-Term Issuer Credit Rating of bbb- for the parent company, Atlantic American Corporation. The assessment also included reviews for the Bankers Fidelity Life Insurance Group to ensure alignment with current credit standards. Analysts note that while the downgrade is significant, the overall outlook for the ratings remains stable. These adjustments highlight the evolving risk landscape within the insurance sector's credit environment.