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A.M. Best Revises Outlooks to Stable for Lancer Indemnity Company and Lancer Insurance Company

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A.M. Best has revised the outlooks to stable from negative and
has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and
the Long-Term Issuer Credit Rating (Long-Term ICR) of "a-" of Lancer
Indemnity Company (Long Beach, NY) and Lancer Insurance Company
(Chicago, IL) (collectively referred to as the Lancer Group).

The ratings reflect Lancer Group's balance sheet strength, which A.M.
Best categorizes as very strong, as well as its adequate operating
performance, limited business profile and appropriate enterprise risk
management.

The revision of the outlooks reflects improved underwriting performance
over the last two years following a substantial strengthening of net
loss reserves in 2015. Much more modest levels of adverse loss reserve
development since that year allowed the Lancer Group to produce a
combined ratio in 2017 that was below that of the commercial auto
composite for the first time since 2012.

This press release relates to Credit Ratings that have been published
on A.M. Best's website. For all rating information relating to the
release and pertinent disclosures, including details of the office
responsible for issuing each of the individual ratings referenced in
this release, please see A.M. Best's
Recent
Rating Activity
web page. For additional information
regarding the use and limitations of Credit Rating opinions, please view
Understanding
Best's Credit Ratings
. For information on the proper media
use of Best's Credit Ratings and A.M. Best press releases, please view
Guide
for Media - Proper Use of Best's Credit Ratings and A.M. Best Rating
Action Press Releases
.

A.M. Best is a global rating agency and information provider with a
unique focus on the insurance industry. Visit
www.ambest.com
for more information
.

Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its
affiliates. ALL RIGHTS RESERVED.

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