These ratings reflect the organizationís excellent capital strength, strong national business profile and extended trends of favorable operating performance. The continued outstanding underwriting performance is driven by disciplined underwriting standards, conservative reserving practices and a proactive claims handling philosophy. The ratings also consider the leading market position the organization holds across multiple jurisdictions. Furthermore, these ratings continue to benefit from the implicit and explicit support provided to MedPro and
This support is in the form of a significant reinsurance transaction with
Partially offsetting these positive rating factors are product concentration in the highly cyclical medical professional liability market and the above average concentration levels in select investments. These factors are somewhat muted by product diversification across jurisdictions, multiple healthcare provider types and the high quality of the investments.
The outlook is based on A.M. Bestís expectation that the organization will continue to have excellent operating performance and balance sheet strength over an extended time period.
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.
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