AM Best Affirms Credit Ratings of Highmark, Inc. and Its Subsidiaries
The ratings of
Highmark’s strongest level of risk-adjusted capitalization is supported by the strong operating results from its core health insurance business. Furthermore, the balance sheet and operating performance of Highmark’s affiliate,
While Highmark is a market leader in providing health products and services in its Blue Plan service areas in
The ratings of
United Concordia’s risk-adjusted capitalization has declined modestly over the past year based on the full year impact of the premiums from TRICARE Dental Program (TDP) contract and dividends to the parent offsetting net earnings. Premiums for
The ratings of Highmark Casualty reflect its balance sheet strength, which AM Best categorizes as strongest, as well as its adequate operating performance, limited business profile and appropriate ERM.
Highmark Casualty’s strongest balance sheet assessment is driven by its high level of absolute capital in relation to its business and investment risk. Operating results has been consistently positive; however, there has been a fair degree of volatility in the level of premium and earnings based on product changes and the strategic focus of the company. Currently, the company assumes the majority of its premium revenue for medical stop-loss business from its affiliate,
The FSR of A (Excellent) and the Long-Term ICRs of “a” have been affirmed with a stable outlook for
-
HM Health Insurance Company -
HM Life Insurance Company -
HM Life Insurance Company of New York -
Highmark Choice Company -
Highmark West Virginia Inc.
The FSR of A (Excellent) and the Long-Term ICRs of “a” have been affirmed with a stable outlook for the following dental subsidiaries of
-
United Concordia Companies Inc. -
United Concordia Insurance Company -
United Concordia Insurance Company of New York -
United Concordia Dental Plans of California, Inc. -
United Concordia Dental Plans of Pennsylvania, Inc. -
United Concordia Dental Plans, Inc.
The FSR of A- (Excellent) and the Long-Term ICRs of “a-” have been affirmed with a stable outlook for
The following Long-Term IRs have been affirmed with a stable outlook:
Highmark Inc.—
--“a-” on
--“a-” on
This press release relates to Credit Ratings that have been published on AM 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 AM 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 AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.
Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190709005882/en/
Associate Director
+1 908 439 2200, ext. 5321
[email protected]
Manager, Public Relations
+1 908 439 2200, ext. 5159
[email protected]
Director
+1 908 439 2200, ext. 5797
[email protected]
Director, Public Relations
+1 908 439 2200, ext. 5644
[email protected]
Source: AM Best
Majesco Congratulates MMG Insurance On Receiving the NAMIC Award In Innovation
Tennessee charges seventh Alabama resident with TennCare fraud
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News