AM Best Upgrades Credit Ratings for Members of Columbia Lloyds Companies
AM Best has upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to “a-” (Excellent) from “bbb+” (Good) of
The ratings reflect Columbia Lloyds’ 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 (ERM).
The upgrades reflect underwriting and operating performance metrics that have consistently outperformed the personal property composite averages. Results reflect management’s focus on maintaining a profitable book of business, which has been refined through active exposure management and strict underwriting guidelines. Columbia Lloyds reported underwriting income in each of the last five calendar years, driving pretax operating income and formidable return measures. Consequently, the group has proven its ability to grow policyholders’ surplus organically through core operations.
Columbia Lloyds’ overall balance sheet strength reflects the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), and traditionally redundant loss reserve position, partially offset by above-average dependence on reinsurance, as measured by ceded leverage. The assessment of limited on its business profile reflects the group’s product and geographic concentrations in
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.
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Source: AM Best
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