OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. has downgraded the financial strength rating (FSR) to B (Good) from A- (Excellent) and the issuer credit rating (ICR) to “bbb-” from “a-” of FFG Insurance Company (FFG) (Dallas, TX). The outlook for all ratings is stable. Subsequently, A.M. Best has withdrawn all ratings and assigned a category NR-3 (Rating Procedure Inapplicable) to FFG as it has been effectively in run off since November 30, 2006.

The downgrades reflect the deterioration in FFG’s risk-adjusted capitalization as a result of its 2007 operating loss and resultant reduction in statutory surplus. The ratings also consider the unlimited guarantee and indemnification provided by FFG’s parent company, Aon Corporation (Aon) (Chicago, IL) (NYSE: AOC - News), to Virginia Surety Company, Inc. for the run off of the FFG reserves.

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