AM Best Affirms A (Excellent) Financial Strength Rating for ReAlign Insurance Group

Business Wire

Affirmation of A (Excellent) rating by AM Best for ReAlign Insurance Group, including National Summit Insurance Company, American Summit Insurance Company and Summit Specialty Insurance Company

DALLAS--(BUSINESS WIRE)-- ReAlign Insurance Holdings, Inc. (ReAlign) announced that AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) for ReAlign Insurance Group, which includes National Summit Insurance Company (formerly known as National Lloyds Insurance Company), American Summit Insurance Company and Summit Specialty Insurance Company.

ReAlign acquired National Summit Insurance Company and American Summit Insurance Company, both of which are domiciled in Texas, in July 2020. In October 2020, ReAlign formed Summit Specialty Insurance Company, a non-admitted insurance carrier domiciled in Nebraska. The ReAlign insurance companies are currently authorized to do business on an admitted and non-admitted basis in 47 states.

ReAlign works with specialty program administrators (“PAs”) with high quality property and casualty insurance programs. National Summit Insurance Company and American Summit Insurance Company currently partner with Nalico General, a subsidiary of Align Financial Holdings, to provide personal property products through a network of over 4,000 agents. The ReAlign Insurance Group has also recently added a commercial umbrella program, an earthquake/DIC/builder’s risk program, and plans to onboard three additional specialty programs during the second half of 2021.

“The affirmation of the A rating from AM Best reflects well on the steps we have taken to grow and diversify the company,” stated Timothy McAuliffe, President of National Summit Insurance Company. “With our strong balance sheet and the dedicated support of the team at ReAlign, we are well positioned to further elevate our value proposition through investments in our technology, people and products.”

Grant Lippincott, President of ReAlign, commented: “We look forward to working with additional PAs who control profitable property and casualty specialty program business. We provide an attractive alternative in the specialty program space with appropriate risk-taking positions that creates an alignment of interests with our PA partners. The ReAlign Insurance Group’s platform of A rated admitted and non-admitted carriers gives us the ability to meet the various capacity needs of leading domestic program underwriters.”

For the latest rating information, access www.ambest.com.

About ReAlign Insurance Holdings, LLC

ReAlign Insurance Holdings, LLC is an insurance holding company formed by ReAlign Capital Strategies, LLC and private investors to acquire and own broadly licensed admitted and surplus lines insurance companies focused exclusively on the specialty program insurance marketplace in the U.S. Supported by a network of over 4,000 agents and authorized in 47 states, ReAlign’s portfolio currently includes specialty personal property insurance companies National Summit Insurance Company and American Summit Insurance Company, domiciled in Texas, as well as surplus lines insurance carrier Summit Specialty Insurance Company, domiciled in Nebraska.