A.M. Best Revises Outlook to Negative for PrimeOne Insurance Company
The revised outlook reflects PrimeOne’s projected declining trend in risk-adjusted capitalization for the next three years, as well as the significant execution risk surrounding the new ownership and management.
The ratings are based on PrimeOne’s adequate balance sheet capitalization as measured by Best's Capital Adequacy Ratio (BCAR), driven by the company’s moderate underwriting leverage and conservative investment profile, in addition to the company’s strong liquidity. Partially offsetting these factors are the company’s significant execution risk in implementing a turn-around strategy to produce positive earnings and capital appreciation, unfavorable operating performance since inception and its diminished market profile following the decision reached on
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