AM Best Affirms Credit Ratings of Philadelphia Insurance Companies’ Members
AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings of “aa+” (Superior) of
The ratings reflect Philadelphia’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and very strong enterprise risk management (ERM).
Philadelphia’s risk-adjusted capitalization remains at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), and continues to benefit from consistent operating profitability and investment income. In addition, Philadelphia’s retained earnings and a highly diversified invested asset base provide depth and breadth to the balance sheet. The ratings also recognize the group’s position as an established market leader in specialty markets, as well as its exceptional diversification by jurisdiction, product line, market segment and distribution channel. The ratings also consider the operational, financial and ERM support provided by
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 Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
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Source: AM Best
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