A.M. Best Affirms Ratings of Virginia Surety Company
CHICAGO - The Warranty Group, Inc., today announced that A.M. Best has affirmed the financial strength and issued credit ratings of its wholly-owned Virginia Surety Company, Inc. to A- (Excellent) and revised the outlook to positive from stable.
According to A.M. Best, "The rating actions reflect Virginia Surety's supportive capitalization, profitable underwriting results and management's specialty niche expertise in the extended warranty market."
Virginia Surety and its affiliated companies are the largest underwriters of consumer extended warranties worldwide. Underwriting activities principally include coverage for extended warranty programs on automobiles, household appliances, consumer electronics, credit card enhancement programs and nonstructural home warranty.
More Industry
California Calling? What's Up With the State's New CARS Act?
Should auto dealers outside of California be concerned about its new price-transparency law? Yes, and you can guide them in the right direction.
Read More →
Tennessee Transaction Latest in Buy-Sell Flurry
Four stores move from a longtime local family business to one of the country’s biggest automotive groups as part of the industry’s continued consolidation.
Read More →
SUV Joins Safety Rankings
Thanks to a seat belt redesign, the Nissan Kicks has earned a Top Safety Pick award from the Insurance Institute for Highway Safety.
Read More →
Nebraska Rooftop Changes Hands
The Gregg Young Automotive Group has sold its second dealership to Janssen Auto Group, both in Plattsmouth, Neb.
Read More →
Penske Auto Group Deal a Record
The deal to take the dealership and transportation services company private sets a new pace for industry buy-sell transactions.
Read More →
War Toll a Damper on Used Auto Prices
Cox Automotive found wholesale depreciation to be elevated in September amid high fuel prices and this year's unusual hurricane season.
Read More →
Bridge the Maintenance Gap
With many drivers missing recommended maintenance, service departments offering transparency and efficiency have a better chance of reaching financially strained consumers.
Read More →
California Store Has New Owner
The longtime dealership in the northern part of the state is known for robust fleet sales and has served the state capital for 115 years.
Read More →
BMW Plant Pursues Cleaner Energy
BMW Group Plant Leipzig has utilized hydrogen to help power its production since 2013, but a new pipeline is planned to take it to another level.
Read More →
Auto Affordability Inches Up
The latest Cox Automotive and Moody’s Analytics index shows a slight increase in new-vehicle affordability despite high prices.
Read More →