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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.