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Stock impact report

AM Best Removes From Under Review With Negative Implications and Affirms Credit Ratings of National Security Insurance Company [Yahoo! Finance]

PhenixFIN Corporation (PFX) 
Company Research Source: Yahoo! Finance
Rating of B (Fair) and the Long-Term Issuer Credit Rating of "bb" (Fair) of National Security Insurance Company (NSIC) (Elba, AL). The outlook assigned to these Credit Ratings (ratings) is negative. The ratings of NSIC reflect its balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business profile and marginal enterprise risk management (ERM). These rating actions follow various steps that NSIC has taken to improve its capital position and operating results significantly. The overall balance sheet strength assessment improved from weak to adequate following various capital raising initiatives, which included a capital infusion by NSIC's ultimate parent, PhenixFIN Corporation, following NSIC's acquisition in 2024 and an executed reinsurance agreement and paydown of intercompany debt in 2025. The ERM assessment was adjusted from appropriate to marginal. While NSIC's ERM framework has historically supported the overall Show less Read more
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