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A.M. Best Withdraws Ratings of Thirteen CNA Subsidiaries Following Affiliated Mergers.

OLDWICK, N.J. -- A.M. Best Co. has withdrawn the financial strength ratings (FSR) of A (Excellent) and the issuer credit ratings (ICR) of "a" and assigned an NR-5 (Not Formally Followed) to Boston Old Colony Insurance Company, The Buckeye Union Insurance Company, CNA Casualty of California, The Glens Falls Insurance Company, The Mayflower Insurance Company, Ltd, National-Ben Franklin Insurance Company of Illinois, Niagara Fire Insurance Company and Pacific Insurance Company (all domiciled in Illinois), Commercial Insurance Company of Newark, New Jersey, Continental Reinsurance Corporation, The Fidelity and Casualty Company of New York, Firemen's Insurance Company of Newark, New Jersey and Kansas City Fire and Marine Insurance Company (all domiciled in Pennsylvania). These companies were wholly owned indirect property/casualty subsidiaries of CNA Financial Corporation (Chicago, IL) (NYSE: CNA).

Effective December 31, 2006, CNA Casualty of California merged into Continental Casualty Company (Illinois), and the remaining companies listed above merged either directly or indirectly into The Continental Insurance Company (Pennsylvania). These mergers were completed as part of a multi-year initiative to streamline CNA's property/casualty legal entity structure in order to realize capital, operational and cost efficiencies.

The FSRs of A (Excellent) and the ICRs of "a" of Continental Casualty Company and The Continental Insurance Company are unchanged by these mergers.

For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.

A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com.
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Publication:Business Wire
Date:Jan 11, 2007
Words:261
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