A.M. Best Co. has revised the outlook of Nationwide Group to negative from stable due in part to the historical impact of storm losses on the group coupled with reduced investment income.
The Oldwick, N.J.-based rating agency said it concurrently has revised the outlook to negative from stable and affirmed the debt ratings of "a" of the $1.5 billion in existing surplus notes of Nationwide Mutual Insurance Company.
Nationwide said it remains financially strong despite difficult economic times.
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