BCBSND has strong brand equity and a leading market share in North Dakota. We are affirming our 'A-' ratings on BCBSND. The stable outlook reflects our expectation that the company will maintain its leading market position and very strong capitalization per our RBC model. On Sept. 25, 2019, S&P Global Ratings affirmed its 'A-' long-term issuer credit and insurer financial strength ratings on Blue Cross Blue Shield of North Dakota (BCBSND). The outlook is stable. BCBSND (formerly Noridian Mutual Insurance Co.) is the largest health insurer in North Dakota and an independent not-for-profit licensee of the Blue Cross Blue Shield Assn. As of June 30, 2019, the company covered around 313,000 members in commercial group, individual under 65, and Medicare
