AM Best Removes From Under Review with Positive Implications and Upgrades Credit Ratings of Westminster American Insurance Company, Assigns Ratings to Certain Members of NI Holdings, Inc.

Apr 14, 2020

AM Best has removed from under review with positive implications and upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a+” from “a-” of Westminster American Insurance Company (Westminster) (Owings Mills, MD). In addition, AM Best has assigned an FSR of A (Excellent) and a Long-Term ICR of “a+” to Primero Insurance Company (Primero) (Las Vegas, NV) and Direct Auto Insurance Company (Direct Auto) (Chicago, IL). The outlook assigned to each of the aforementioned Credit Ratings (ratings) is stable. Concurrently, AM Best has upgraded the FSR to A (Excellent) from A- (Excellent) and the Long-Term ICR to “a+” from “a-” of American West Insurance Company (American West) (Fargo, ND). At the same time, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a+” of Battle Creek Mutual Insurance Company (Battle Creek) (Battle Creek, NE) and Nodak Insurance Company (Nodak Insurance) (Fargo, ND). These companies comprise Nodak Insurance Group (Nodak), which is ultimately owned by NI Holdings, Inc. AM Best has affirmed the Long-Term ICR of “bbb+” for NI Holdings, Inc. (Fargo, ND) [NASDAQ: NODK], a publicly traded holding company. The outlook of these ratings remains stable.

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