A.M. Best Removes From Under Review with Developing Implications and Affirms Credit Ratings of Pacific Compensation Insurance Company
The rating actions follow confirmation that
The ratings reflect PacificComp’s balance sheet strength, which
The ratings also reflect the significant explicit support provided by CopperPoint Mutual in terms of capital contributions and reinsurance protection. In addition,
PacificComp maintains the strongest level risk-adjusted capitalization as measured by Best's Capital Adequacy Ratio (BCAR) with scores at the 99.6% level. Risk-adjusted capitalization benefits from the protection afforded through an adverse development cover and keep well agreement for prior year reserves, as well as the
The ratings of CopperPoint reflect its balance sheet strength, which
CopperPoint maintains the strongest level risk-adjusted capitalization as measured by Best's Capital Adequacy Ratio (BCAR) with scores at the 99.6% level. Strong pre-tax operating earnings have outperformed the workers’ compensation industry composite by a wide margin over the recent five-year period, with operating earnings driven by growth in the level of net investment income, which has more than offset reported underwriting losses.
The FSR of A- (Excellent) and the Long-Term ICRs of “a-” have been affirmed with a stable outlook for the following members of the
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CopperPoint Mutual Insurance Company -
CopperPoint American Insurance Company -
CopperPoint Casualty Insurance Company -
CopperPoint General Insurance Company -
CopperPoint Indemnity Insurance Company -
CopperPoint National Insurance Company -
CopperPoint Premier Insurance Company -
CopperPoint Western Insurance Company -
MountainPoint Insurance Company
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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Source:
A.M. Best Affirms Credit Ratings of South China Insurance Co., Ltd.
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