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FOR IMMEDIATE RELEASE
OLDWICK - MARCH 25, 2020 12:43 PM (EDT)
AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” to Mobilitas Insurance Company of Arizona (Mobilitas Company) (Glendale, AZ). The outlook assigned to these Credit Ratings (ratings) is stable. Mobilitas Company is a wholly owned subsidiary of CSAA Insurance Exchange (the Exchange), which is the lead member of CSAA Insurance Group (CSAA).
The ratings of Mobilitas Company reflect the consolidated balance sheet strength of CSAA, which AM Best categorizes as strongest, as well as its marginal operating performance, favorable business profile and appropriate enterprise risk management.
The rating action reflects Mobilitas Company’s role as a member of CSAA. Explicit support is provided to Mobilitas Company through its participation in an inter-company reinsurance program with the Exchange. Mobilitas Company will provide insurance to individuals driving for transportation network companies, covering both personal and commercial coverages, subscription auto commercial coverage and on-demand insurance.
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.