A.M. Best Upgrades Credit Ratings of The Service Insurance Company, Inc.
The rating upgrades reflect SIC’s continued favorable operating trends and very strong risk-adjusted capitalization. The company has a long-standing tradition of producing favorable underwriting and operating returns in the surety market. SIC focuses primarily on smaller limit surety bonds and serves a variety of different business classes. The company’s risk-adjusted capitalization is aided by consistently favorable reserve development, solid underwriting and operating cash flows, consistent investment income and a comprehensive reinsurance profile.
These positive rating factors are offset by the company’s somewhat limited business profile. SIC is licensed currently in 19 states; however, over 90% of premiums relate to either
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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