AM Best Assigns Credit Ratings to Metropolitan General Insurance Company
- December 10, 2021 02:26 PM (EST)
Oldwick //BestWire// - AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent) to Metropolitan General Insurance Company (Metropolitan General) (Warwick, RI). The outlook assigned to these Credit Ratings (ratings) is stable. Metropolitan General is a wholly owned subsidiary of MetLife, Inc. (MetLife) [NYSE: MET].
The ratings reflect Metropolitan General’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings of Metropolitan General also benefit from its ownership by MetLife. The balance sheet strength assessment reflects the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), and expectations of capital growth. Operating performance is expected to be profitable as Metropolitan General will focus on writing legal and pet insurance. Metropolitan General is integrated into MetLife’s ERM and operational processes, and benefits from MetLife’s distribution network, name recognition and leading position in the employee benefits space. Legal and pet insurance offered by Metropolitan General will provide additional options for employees in these plans.
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 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.