A.M. Best Co. has downgraded the financial strength rating to A- (Excellent) from A (Excellent) and issuer credit rating to "a-" from "a" of First Colonial Insurance Company. The outlook for both ratings is stable. First Colonial's ultimate parent is The Allstate Corporation (ALL).
In a separate press release, A.M. Best Co. has affirmed the financial strength rating of A (Excellent) and issuer credit rating of "a" of North Light Specialty Insurance Company. The outlook for both ratings is stable. North Light is a wholly owned subsidiary of Allstate Insurance Company, with both companies having The Allstate Corporation as their ultimate parent. These companies are domiciled in Northbrook, IL.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.