OREANDA-NEWS. A.M. Best has affirmed the financial strength rating (FSR) of A+ (Superior) and the issuer credit ratings (ICR) of “aa-” of Protective Insurance Company (PIC) and its wholly owned subsidiary, Sagamore Insurance Company (Sagamore).

In addition, A.M. Best has affirmed the FSR of A (Excellent) and the ICR of “a” of PIC’s other wholly owned, separately rated subsidiary, Protective Specialty Insurance Company (PSIC). Collectively, these three companies are referred to as the Baldwin & Lyons Group (the group). Concurrently, A.M. Best has affirmed the ICR of “a-” of the group’s ultimate publicly traded parent, Baldwin & Lyons, Inc. (B&L) [NASDAQ: BWINA and BWINB]. The outlook for each of these ratings is stable. All companies are domiciled in Carmel, IN.