MAY 10, 2022 02:30 PM (EDT)
AM Best Assigns Credit Ratings to Four Points Insurance Company Ltd.
|Michael Buckley |
+1 908 439 2200, ext. 5658
+1 908 439 2200, ext. 5815
Manager, Public Relations
+1 908 439 2200, ext. 5159
Managing Director, Strategy & Communications
+1 908 439 2200, ext. 5204
FOR IMMEDIATE RELEASE
OLDWICK - MAY 10, 2022 02:30 PM (EDT)
AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Four Points Insurance Company Ltd. (Four Points) (Langley, BC). The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect Four Points’ balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
Four Points is a newly formed subsidiary of The Mutual Fire Insurance Company of British Columbia (Mutual Fire) and operates as a property/casualty insurer across five provinces. Four Points will leverage Mutual Fire’s current relationships with its managing general agent partners to insure targeted business in small-to-medium enterprise and mid-market commercial risks. The ratings of Four Points also reflect a financial guarantee with Mutual Fire and the commonality in management, infrastructure, operational capabilities and systems between Four Points and Mutual Fire.
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 use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
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 London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.