OLDWICK, N.J. --(BUSINESS WIRE)-- A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating of A- (Excellent) and issuer credit ratings of ďa-Ē of Connecticut Medical Insurance Company (CMIC) ( Glastonbury, CT ) and its affiliate, CMIC-RRG ( District of Columbia ). The companies write medical professional (MPL) and hospital professional (HPL) liability insurance primarily in Connecticut and Massachusetts . CMIC provides substantial reinsurance support to CMIC-RRG. The revised outlook reflects the improvement in CMICís financial condition in recent years through its strong operating results. Surplus growth has been fueled by pricing discipline and several consecutive years of favorable reserve development almost entirely from the Connecticut book of business. Better than expected loss experience enabled management to rotate redundant reserves through earnings into surplus. Recent strategic expansion into Massachusetts (since 2005) and other New England states with the establishment of CMIC-RRG (since 2010) effectively position the company for growth. A.M. Best will monitor the success of CMICís growth initiatives into new markets in the context of performance relative to its peers and the MPL/HPL markets in general, for which premium rates remain competitive and rates of improving loss experience are slowing. Positive rating actions could occur if CMICís operating results and loss experience in Massachusetts exceed A.M. Bestís expectations. Negative rating actions could result from adverse loss experience, in Massachusetts or another new market, materializing to limit or diminish capital adequacy in the future. The methodology used in determining these ratings is Bestís Credit Rating Methodology, which provides a comprehensive explanation of A.M. Bestís rating process and contains the different rating criteria employed in the rating process. Bestís Credit Rating Methodology can be found at www.ambest.com/ratings/methodology . A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com . Copyright © 2013 by A.M. Best Company, Inc. ALL RIGHTS RESERVED. A.M. Best Co. Dan Teclaw , 908-439-2200, ext. 5394 Senior Financial Analyst email@example.com or Henry Witmer , 908-439-2200, ext. 5097 Assistant Vice President firstname.lastname@example.org or Rachelle Morrow , 908-439-2200, ext. 5378 Senior Manager, Public Relations email@example.com or Jim Peavy , 908-439-2200, ext. 5644 Assistant Vice President, Public Relations firstname.lastname@example.org Source: A.M. Best Co.
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