A.M. Best Affirms Credit Ratings of Markel Corporation and Most Subsidiaries
At the same time,
Concurrently,
The ratings of the
Balance sheet strength is further supported by the group’s lengthy track record of favorable loss reserve development, strong and consistent positive cash flows and organic generation of surplus growth. The group generally outperforms its peers in terms of underwriting results, and return on equity generally exceeds the composite average. However, the group maintains relatively high underwriting leverage, and investment income generation tends to trail the average of the composite, reflecting that the group’s investment strategy focuses primarily on long-term capital appreciation, with investment income as a secondary consideration. The group’s operating ratio and pre-tax return on revenue tend to lag the peer group averages. The favorable business profile assessment reflects the group’s solid market position, ranking among the Top 35 writers of property/casualty insurance in
The ratings of
The ratings of SureTec reflect its balance sheet strength, which
The Markel Corporation maintains financial leverage and coverage that are within A.M. Best’s guidelines for its rating and a level of risk-adjusted capitalization that supports its insurance operations, as well as the risk in its considerable non-insurance investment portfolio. While common stock leverage is elevated as a result of the group’s investment strategy, which emphasizes long-term capital growth, the company has a long track record of successfully managing these investments. For 2017,
The FSR of A (Excellent) and the Long-Term ICRs of “a+” have been affirmed, each with a stable outlook, for the following members of
-
Essentia Insurance Company -
Evanston Insurance Company -
FirstComp Insurance Company -
Markel American Insurance Company -
Markel Insurance Company -
Markel International Insurance Company Ltd.
The following Long-Term IRs have been affirmed, each with a stable outlook:
Markel Corporation—
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
The following indicative Long-Term IRs under the existing shelf registration have been affirmed, each with a stable outlook:
Markel Corporation—
-- “bbb+” on senior unsecured debt
-- “bbb” on subordinated debt
-- “bbb-” on preferred securities
This press release relates to Credit Ratings 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. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
Copyright © 2017 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171220006013/en/
Director
[email protected]
or
Senior Director
[email protected]
or
Manager, Public Relations
[email protected]
or
Director, Public Relations
[email protected]
Source:
Rep. King Issues Statement on Tax Cuts & Jobs Act
A.M. Best Upgrades Credit Ratings of Security Benefit Life Insurance Company and First Security Benefit Life and Annuity Company of New York
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News