A.M. Best Co. has affirmed the financial strength rating (FSR) of C++ (Marginal) and issuer credit rating (ICR) of "b" of Wisconsin American Mutual Insurance Company (Wisconsin American Mutual) (Fond du Lac, WI)

The outlook for both ratings is stable. Concurrently, A.M. Best has withdrawn the ratings at the company's request and assigned a category NR-4 to the FSR and an "nr" to the ICR.

The ratings reflect Wisconsin American Mutual's weak underwriting results due to the impact that severe weather-related and significant fire losses have had on its results, its significant dependence on reinsurance and adverse loss reserve development that occurred over several years.

Offsetting these rating factors is management's strategy to improve profitability and balance sheet strength through the contraction of its business. Additional strategies include tightening underwriting guidelines, obtaining rate adequacy, reducing operational expenses, closely monitoring loss reserve development and improving information technology.

For Best's Credit Ratings, an overview of the rating process and rating methodologies: ambest.com/ratings.

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