04 Mar 2010
A.M. Best Co. has placed the financial strength rating of A- (Excellent) and issuer credit rating of "a-" of Reserve National Insurance Company (Reserve National) under review with developing implications. Reserve National is a wholly owned life/health insurance subsidiary of Unitrin, Inc. (Unitrin). The ratings of the other life/health insurance subsidiaries of Unitrin are unchanged.
The rating actions are in response to Unitrin's recent announcement that it has reached an agreement in principle to sell Reserve National to Physicians Mutual Insurance Company. The transaction is subject to negotiations and execution of a definitive agreement between Unitrin and Physicians Mutual Insurance Company, completion of due diligence and regulatory approval. At this time, the transaction is expected to be completed in second quarter 2010.
