KBRA Assigns BBB IFSR to American Traditions Insurance Company
KBRA assigns a BBB insurance financial strength rating (IFSR) to
Balancing these strengths are the company’s geographic and earnings concentration which necessitates a dependence on reinsurance and exposes it to event risk, moderately weak to adequate risk-based capitalization, and elevated premium leverage. Further, recent losses across the last five years have been driven by natural catastrophes and elevated storm frequency, though the company has revamped exposure management tools, tightened underwriting guidelines, and implemented rate increases, which KBRA views favorably.
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Disclosures
Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.
A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.
Information on the meaning of each rating category can be located here.
Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.
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