AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Federated Underwriting Company (Federated) (Colchester, VT). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Federated’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings also reflect the credit enhancement received from its ultimate parent, State Street Corporation (State Street) [NYSE: STT]. This single-parent captive was formed and capitalized in 2019 as part of State Street’s alternative risk(…) Read More »