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FOR IMMEDIATE RELEASE
OLDWICK - JULY 27, 2022 12:17 PM (EDT)
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Dakota Truck Underwriters and First Dakota Indemnity Company. These companies are collectively known as Dakota Group (Dakota) and are domiciled in Sioux Falls, SD.
The Credit Ratings (ratings) reflect Dakota’s 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
Dakota’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), is assessed at the strongest level. The positive outlooks are driven by the group’s operational performance, which is reflective of strong underwriting results and consistent investment income that contributes to continuous surplus growth. In addition, the group outperforms its composite peers in combined ratios and operating ratios. AM Best expects Dakota will continue to generate strong earnings.
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.