A.M. Best Assigns Credit Ratings to Blue Ridge Indemnity Company; Affirms Credit Ratings of Fortegra Financial Corporation’s Insurance Subsidiaries
The ratings of
Fortegra P&C Group’s balance sheet strength is reflective of its strongest level of risk-adjusted capitalization, prudent investment portfolio and comprehensive reinsurance program. Partially offsetting these positive factors are the substantial reliance on third-party reinsurance to provide capacity, which is demonstrated by its extremely high ceded underwriting leverage, somewhat mitigated by the use of collateral and modest loss reserve volatility.
Fortegra P&C Group’s operating performance is categorized as adequate. The group has produced solid operating earnings over the past five years, primarily driven by profitable underwriting results coupled with growing investment earnings. The group’s business profile is considered neutral due to its solid geographic and product spread of risk.
Blue Ridge’s ratings reflect its participation in the group’s reinsurance pooling agreement, being fully integrated with shared underwriting systems, operations, and management.
The ratings of the Life of the
The ratings of the Life of the
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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Brian O’Larte, +1-908-439-2200, ext. 5138
Director—P/C
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Senior Financial Analyst—L/H
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