AM Best confirms the credit ratings of members of Crum & Forster Insurance Group and Monitor Life Insurance Company of New York

ALDUICK, NJ-(BUSINESS WIRE)–AM Best affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of ‘a’ (Excellent) of the members of Crum & Forster Insurance Group (C&F). At the same time, AM Best affirmed Monitor Life Insurance Company of New York (Monitor Life) (New York, NY) at FSR of A (Excellent) and Long-Term ICR of ‘a’ (Excellent). The outlook for these credit ratings (ratings) is stable. (See below for a detailed list of companies.)

C&F’s ratings reflect the strength of its balance sheet, which AM Best rates as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). The ratings also reflect the benefits the group derives from its role in the larger Fairfax Financial Holdings Limited (Fairfax) entity.

Monitor Life’s ratings reflect the strength of its balance sheet, which AM Best rates as very strong, as well as its adequate operating performance, limited business profile and appropriate ERM, as well as the financial support and strategic importance to its parent, United States Fire Insurance Company, part by C&F.

C&F’s rating confirmations reflect the continued stabilization of the group’s underwriting and operational performance over recent years. This improvement resulted from the expansion of the group’s Accident and Health (A&H) business, as well as excess and specialty, which led to strong underlying results for the group. Although initial expansion efforts put pressure on C&F’s risk-adjusted capitalization, the impact was mitigated by capital contributions from parent Fairfax. As the business was rigged, performance increased to surplus and allowed C&F to pay dividends to Fairfax in late 2021 and the first quarter of 2022.

Monitor Life’s operating results remain close to profitability as the company produces modest amounts of direct written business. Growth is expected in the near future as the company builds scale. Monitor Life currently has a limited portfolio of A&H Group products licensed in 48 states and the District of Columbia, with plans to license the remaining two states and expand its product portfolio. In addition, the products will be distributed through C&F’s nationwide distribution network. Monitor Life’s ERM program is coordinated by the parent organization.

FSRs of A (Excellent) and Long-Term ICRs of ‘a’ (Excellent) have been affirmed with a stable outlook for the following Crum & Forster Insurance Group members:

  • Crum & Forster Indemnity Company

  • Crum and Forster Insurance Company

  • North River Insurance Company

  • Fire Insurance Company of the United States

  • Crum & Forster Specialty Insurance Company

  • First Mercury Insurance Company

  • American Underwriters Insurance Company

  • Seneca Insurance Company, Inc.

  • Crum & Forster SPC

  • Seneca Specialty Insurance Company

This press release refers to the credit ratings that are published on the AM Best website. For all rating information relating to the release and relevant disclosures, including details of the agency responsible for issuing each of the individual ratings set out in this release, please see AM Best’s Recent assessment activity Web page. For additional information on the use and limitations of credit score opinions, please see Guide to Best Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best Performance Ratings, Best Preliminary Credit Ratings and AM Best Press Releases please see A guide to using Best’s ratings and ratings correctly.

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. For more information visit

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