A.M. Best Co. recently upgraded Continental American Insurance Co.'s financial strength from B++ to A- and the issuer credit rating from BBB+ to A-. The outlook has been revised from positive to stable.
According to a press release from Continental American, the company has increased direct sales and premiums, and moderated the amount of business written through joint ventures, as well as diversifying its product mix, and writing business over a number of different industries.
Despite the revised ratings, an extended recession could have a negative effect on Continental American's operating results, according to A.M. Best.
