The ratings of PIC and Sagamore reflect the group’s balance sheet strength, which
The ratings of PSIC reflect the company’s balance sheet strength, which
The ratings of B&L reflect the organization’s low financial leverage, its generally favorable interest and fixed coverage ratios, and its access to capital markets.
The revised outlook on the group reflects the ongoing adverse loss development that it experienced in 2016 and 2017 and its rapid expansion into lines of business, which has driven this adverse development. According to the group’s management, this expansion is expected to be profitable and should alleviate the group’s heavy concentration with its largest customer. However,
Negative rating action could occur as a result of an unforeseen change in the group’s relationship with its largest client, or if there is significant weakening of the balance sheet due to a loss of surplus, which could result from an increase in claims frequency or severity; a decline in investment values; or from adverse reserve development.
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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A.M. Best Affirms Credit Ratings of DB Insurance Co., Ltd.
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