AM Best Comments on Credit Ratings of Work First Casualty Company Following Announced Transaction with WCF Insurance Company

Business Wire

OLDWICK, N.J.--(BUSINESS WIRE)--
AM Best has commented that the Credit Ratings (ratings) of Work First Casualty Company (Work First) (Salt Lake City, UT) remain unchanged following the recent announcement that it has entered into a definitive agreement to be acquired by WCF Insurance Company.

Work First is a specialty insurer that provides workers’ compensation coverage exclusively to the temporary staffing industry and has 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 Work First’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.

Terms were not disclosed. Closing is estimated for the fourth quarter of 2026 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.