AM Best Upgrades Credit Ratings of The Doctors Company, An Interinsurance Exchange and Subsidiaries
- October 27, 2026 01:16 PM (EDT)
//BestWire// - AM Best has upgraded the Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa-” (Superior) from “a+” (Excellent) of The Doctors Company, An Interinsurance Exchange (Napa, CA) and its core subsidiaries, which collectively comprise The Doctors Company Insurance Group (TDC or TDC Group). The outlook of these Credit Ratings (ratings) has been revised to stable from positive. See below for a list of companies.
The ratings of TDC reflect the group’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management (ERM).
The rating upgrades reflect a revision in TDC’s business profile assessment to favorable from neutral. The group maintains a solid market position as the second largest writer within the U.S. medical professional liability (MPL) segment and its position has been further strengthened by the group’s acquisition of ProAssurance Corporation (PRA), which closed in June 2026. TDC’s book of business is well-diversified by geography and across health care provider types. The group’s management team is long-tenured with significant depth of experience. Innovation capabilities are viewed favorably, with executive sponsorship and dedicated resources in place leading to increasingly measurable business outcomes.
TDC continues to maintain the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR). Solid underwriting and overall operating results have contributed to surplus growth over the most recent five-year period. While the PRA transaction is projected to result in slightly weaker underwriting performance over the near term, the combined organization’s enhanced scale of operations is anticipated to be accretive to overall earnings. Significant net investment income is expected to be sufficient to offset modest underwriting losses.
The FSR has been upgraded to A+ (Superior) from A (Excellent) and the Long-Term ICRs to “aa-” (Superior) from “a+” (Excellent) with the outlooks revised to stable from positive for the following members of The Doctors Company Insurance Group:
- The Doctors Company, An Interinsurance Exchange
- TDC National Assurance Company
- TDC Specialty Insurance Company
- TDC Special Risks Insurance Company
- The Doctors Company Risk Retention Group, a Reciprocal Exchange
- Hospitals Insurance Company, Inc.
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.