AM Best Revises Issuer Credit Rating Outlook to Stable for Ocean Harbor Casualty Insurance Company and Its Affiliates
- January 30, 2026 01:23 PM (EST)
//BestWire// - AM Best has revised the outlook to stable from negative for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term ICRs of “bb+” (Fair) of Ocean Harbor Casualty Insurance Company (OHCIC) (Tallahassee, FL) and its affiliates, Great Northwest Insurance Company (Shoreview, MN) and Hawaiian Insurance and Guaranty Insurance Company, Limited (Honolulu, HI). The outlook of the FSR is stable.
The Credit Ratings (ratings) reflect OHCIC’s balance sheet strength, which AM Best assesses as weak, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).
The stable Long-Term ICR outlook reflects improvements in OHCIC’s investment returns and operating profitability, as well as its risk-adjusted capitalization, while also recognizing the group’s appropriate ERM when assessing, measuring and mitigating its catastrophe risk through modeling, reinsurance and non-traditions collateralized resources. The outlook of the FSR is stable.
The ratings could be impacted negatively if overall results lead to erosion of policyholders’ surplus and risk-adjusted capitalization. The ratings could also be impacted negatively by persistent unfavorable underwriting performance. While unlikely, positive rating action could occur if the group experiences continued and sustained improvements in operating results and risk-adjusted capitalization.
OHCIC is an automobile and homeowners’ carrier, which writes non-standard private passenger automobile coverage in Florida and homeowners’ coverage in 10 states.
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.