A.M. Best Affirms Credit Ratings of Safety Insurance Group, Inc. and its Subsidiaries
The ratings reflect Safety’s balance sheet strength, which
The very strong balance sheet strength is derived from risk-adjusted capitalization also being at the very strong level, favorable loss reserve development trends and sound liquidity measures. Safety also benefits from the financial flexibility afforded by its publicly-traded parent, which has a debt-free balance sheet and the ability to access the public debt and equity markets to raise capital if needed.
Safety’s operating performance has been favorable, supported by both favorable net underwriting income and net investment income. Above-average profitability has supported capital growth and is derived from management’s ability to successfully manage the challenges in
The business profile is considered neutral due to its leading market positions and diverse product offerings, partially offset by its concentration in
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
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