AM Best Comments on Credit Ratings of Universal Shield Insurance Group Subsidiaries Following Announced Transaction with Tiptree Inc.

Business Wire

OLDWICK, N.J.--(BUSINESS WIRE)--
AM Best has commented that the Credit Ratings (ratings) of Universal Shield Insurance Group (USIG) (Waterford, MI) subsidiaries remain unchanged following the announcement that Tiptree Inc. (TIPT) and Universal Shield Insurance Group (USIG) have entered into a definitive agreement under which TIPT will acquire USIG, a specialty property/casualty insurer operating in both admitted and non-admitted markets.

USIG subsidiaries have a Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Ratings of “a-” (Excellent). The outlook of these ratings is stable. The ratings reflect USIG’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

TIPT will acquire 100% of USIG for cash consideration of $100 million, adjusted for certain closing costs. Additionally, TIPT will contribute additional capital to accelerate growth and capacity in USIG. Closing is estimated for the first quarter of 2027 and is subject to certain regulatory approvals and other customary closing conditions.

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.

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.