SEPTEMBER 16, 2020 01:05 PM (EDT)
AM Best Revises Issuer Credit Rating Outlook to Positive for Aventus Insurance Company
FOR IMMEDIATE RELEASE
OLDWICK - SEPTEMBER 16, 2020 01:05 PM (EDT)
The ratings reflect Aventus’ balance sheet strength, which AM Best categorizes as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).
The revised Long-Term ICR outlook to positive reflects the expectation for continued strengthening of the balance sheet through organic surplus growth generated from profitable operating results as a niche fronting carrier.
Aventus’ adequate operating performance is driven by underwriting profitability and investment income. The limited business profile reflects its geographically concentrated position in Texas. Aventus benefits from an appropriate ERM program that supports the risk profile of the organization and includes stress testing to determine investment allocation and reinsurance purchases.
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 media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
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 New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.