DECEMBER 18, 2015 11:12 AM (EST)
A.M. Best Affirms Ratings of Accredited Surety and Casualty Company, Inc.
FOR IMMEDIATE RELEASE
OLDWICK - DECEMBER 18, 2015 11:12 AM (EST)
The ratings reflect Accredited’s solid level of risk-adjusted capitalization, positive operating earnings and niche market position within the bail bond business. Since 2011, Accredited has consistently generated underwriting profits, driven by its low bail bond loss experience.
Partially offsetting these positive rating factors is Accredited’s product concentration which exposes the company’s business to changes in laws and regulations related to bail bonds. Additionally, although results have shown significant improvement and stability in the most recent years, modest deterioration of underwriting results and growth in net written premium that outpaced surplus growth were experienced earlier in the past five years.
While the outlook is stable for Accredited, negative rating actions could result if Accredited’s operating performance falls markedly short of expectations or there is a decline in Accredited’s risk-adjusted capitalization.
This press release relates to rating(s) that have been published on A.M. 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 visit A.M. Best’s Ratings & Criteria Center.
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