AM Best Comments on Credit Ratings of CopperPoint Insurance Company and Its Subsidiaries Following Announced Acquisition of United Casualty and Surety Insurance Company
- May 29, 2026 09:50 AM (EDT)
//BestWire// - AM Best has commented that the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of CopperPoint Insurance Company (CopperPoint) (Phoenix, AZ) and its wholly owned subsidiaries remain unchanged following the recent announcement of a transaction to acquire United Casualty and Surety Insurance Company (UCS) (Omaha, NE). On May 18, 2026, Boston Omaha Corporation (NYSE:BOC) announced that it has entered into a definitive Securities Purchase Agreement (SPA) to sell UCS, its surety insurance business, which is operated by General Indemnity Group, LLC (GIG), to CopperPoint. The transaction is structured as an all-cash transaction under which CopperPoint will acquire all of the outstanding equity interests of GIG.
GIG operates its surety insurance business through its two wholly owned subsidiaries: UCS and surety placement platform, BOSS Bonds. In addition, the acquisition includes SuretyBonds.Market, a proprietary technology platform developed by GIG. The transaction is expected to close prior to year-end 2026, pending receipt of required regulatory approvals, including approvals by the Nebraska Department of Insurance and the fulfillment of other customary closing conditions. CopperPoint is a specialty insurance company with expertise in workers’ compensation and an expanding multiline property/casualty offering.
For the fiscal year ended Dec. 31, 2025, GIG reported total revenues of $27.2 million. UCS is about 2.4% the size of CopperPoint in terms of shareholder’s equity and about 3.4% in terms of net premiums written.
Risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), is expected to remain at a level that supports the consolidated group.
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 (BCR), Best’s Performance Assessments (PA), Best’s Preliminary Credit Assessments (PCA) 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.