AM Best Comments on Credit Ratings of SUNZ Insurance Company

Business Wire

OLDWICK, N.J.--(BUSINESS WIRE)--
AM Best has commented that the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of SUNZ Insurance Company (SUNZ) (Bradenton, FL) remain unchanged following the sale of its affiliated managing general agency (MGA) and third-party administrator (TPA) operations by its immediate parent, SUNZ Holdings, LLC.

The entities sold as part of the transaction include Next Level Administrators, a third-party administrator; Watchpoint, a special investigative unit; Ascential Care partners, nurse case management and utilization review; Avalon, claims subrogation; and Accelevant Premium Audit.

AM Best does not expect SUNZ’s rating fundamentals to be impacted by the sale of these operations, as the company still will maintain full access to these service companies after the transaction closes.

SUNZ was formed in 2005 and primarily writes high deductible worker’s compensation coverage, utilizing its proprietary technology-driven platform focused on collateral management for its medium and small business clients.

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 Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.