A.M. Best Assigns Rating to National General Holdings Corp.’s New Preferred Shares

A.M. Best has assigned an issue rating of “bb” to the recently issued $200 million 7.50% non-cumulative perpetual preferred stock of National General Holdings Corp. (NGHC) [NASDAQ:NGHC] (headquartered in New York, NY). The outlook assigned to the rating is stable. All remaining ratings of NGHC and its subsidiaries are unchanged.

The proceeds from the issuance will be used for general corporate purposes, including strategic acquisitions and support of current and future policy writings. With the issuance of the preferred shares, NGHC’s adjusted debt-to-total capital and adjusted debt-to-tangible capital measures remain within A.M. Best’s guidelines for the current rating level, as does its interest coverage ratio.

This press release relates to rating(s) 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.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2016 by A.M. Best Rating Services, Inc. ALL RIGHTS RESERVED.

Contacts:

A.M. Best
Jennifer Marshall, +1 908 439 2200, ext. 5327
Assistant Vice President
jennifer.marshall@ambest.com
or
Christopher Sharkey, +1 908 439 2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
John Andre, +1 908 439 2200, ext. 5619
Group Vice President
john.andre@ambest.com
or
Jim Peavy, +1 908 439 2200, ext. 5644
Assistant Vice President, Public Relations
james.peavy@ambest.com

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