AM Best Revises Outlooks to Stable for Members of IFG Companies

NOVEMBER 14, 2025 09:46 AM (EST)

AM Best Revises Outlooks to Stable for Members of IFG Companies

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FOR IMMEDIATE RELEASE

OLDWICK - NOVEMBER 14, 2025 09:46 AM (EST)
AM Best has revised the outlooks to stable from positive and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of "a+" (Excellent) for the members of IFG Companies (IFG) (Chicago, IL). (See below for a detailed listing of the members and Credit Ratings [ratings]).

These ratings reflect IFG's balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).

The revision of the outlooks to stable from positive is driven by IFG's operating performance, which has recently been impacted by increased underwriting variability, production declines and reserve strengthening. Overall operating performance metrics have been adversely impacted as a result. The decline in IFG's production reflected management's decision to reduce habitational business and fully exit the liquor liability line given the severity-challenged underwriting/claim conditions.

IFG's balance sheet strength assessment remains well-supported by its risk-adjusted capitalization, which is at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR). Additionally, the group maintains favorable levels of liquidity, moderate underwriting leverage, a low dependence on reinsurance that further solidifies its balance sheet position and a recently strengthened management team. The group's ERM is assessed as appropriate given the organization's strong risk management capabilities, which supports the group's overall risk profile.

The FSR of A (Excellent) and the Long-Term ICRs of 'a+" (Excellent) have been affirmed with the outlooks revised to stable from positive for the following members of IFG:

· First Financial Insurance Company

· Alamance Insurance Company

· Burlington Insurance Company

· Guilford Insurance Company

This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activityweb page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings (BCR), Best's Performance Assessments (PA), Best's Preliminary Credit Assessments (PCA) and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.