A.M. Best Affirms Credit Ratings of Queen City Assurance, Inc. and Vine Court Assurance Incorporated
The ratings reflect group’s balance sheet strength, which
The ratings are based on Queen City and Vine Court’s individual and combined profiles as single-parent captives of The Kroger Co. The ratings also are based on both captives’ excellent risk-adjusted capitalization, substantial net income and underwriting profitability, a growing capital base, conservative investments and a strong adherence to the parent’s robust risk controls and overall risk culture. Additionally, return measures on a group and individual basis are consistently positive, reflective of the organization’s prudent pricing and deployment of capital.
These significant strengths are offset partially by the companies’ risk concentration, which is the result of being single-parent captives of The Kroger Co., coupled with a substantial aggregate limit retained by the captives. Nevertheless,
Key triggers that could result in a ratings upgrade include a consistently profitable operating performance coupled with a substantial increase in risk-adjusted capitalization. Key rating triggers that could result in a downgrade include a precipitous decline in the companies’ risk-adjusted capital strength. Either a rating enhancement or deterioration in the capitalization of the parent could result in an upgrade or a downgrade of the ratings of Queen City and Vine Court.
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 © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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