A.M. Best Revises Outlooks to Positive for Insurance Company of the West and Its Subsidiaries
The positive outlooks are based on ICW’s improved operating and underwriting results over several years, driven primarily by favorable loss experience in its leading line of business, workers’ compensation (WC). As a result, ICW’s five-year average combined and operating ratios outperformed those of the WC composite. Additionally, ICW’s technology platform has resulted in operating and underwriting efficiencies, enabling ICW to optimize risk selection and pricing. Furthermore, ICW’s surplus has grown considerably due to its better-than-average underwriting performance coupled with an increasing level of net investment income.
The Credit Rating (rating) affirmations reflect the group’s solid risk-adjusted capitalization, attributable to the equity embedded in its loss and unearned premium reserve, a comprehensive reinsurance program and a fairly conservative investment portfolio. Furthermore, the ratings reflect the financial flexibility of its parent company,
Offsetting these positive rating factors is ICW’s concentration of risk 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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Samiksha Gupta
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