AM Best Assigns Credit Ratings to Members of Ledgebrook Insurance Group
- August 10, 2026 04:20 PM (EDT)
//BestWire// - AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Ratings of “a-” (Excellent) to Ledgebrook Specialty Insurance Company (Ledgebrook Specialty) and Stonehaven Specialty Insurance Company (Stonehaven Specialty). Both companies are domiciled in Delaware and are collectively referred to as Ledgebrook Insurance Group (LIG). LIG is part of Ledgebrook Inc., a tech-enabled company that is headquartered in Boston, MA. The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect LIG’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 (ERM).
The balance sheet strength assessment is driven by AM Best’s expectation that LIG will maintain the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), over the five-year start-up period. Additionally, the assessment is contingent upon management executing its proposed plans and maintaining an appropriate capital buffer to support future growth plans.
AM Best assesses LIG’s operating performance as adequate based on the group’s five-year business plan, which as a newly formed entity, is subject to successful implementation with manageable deviations over the planning horizon.
AM Best assesses LIG’s business profile as limited. Ledgebrook Specialty will serve as capacity for the group’s first-party business, while Stonehaven Specialty will focus on third-party business. The group’s profile is supported by a proprietary technology platform contributing to enhanced data quality and efficient pricing. However, a small suite of products with limited diversification across lines of business and geographies is viewed as an offsetting factor contributing to the group’s limited business profile.
The group’s ERM assessment of appropriate is based upon a formalized ERM program focused on identifying, measuring and mitigating risks and events that pose a threat to the overall organization. While the buildout of the ERM framework is ongoing, AM Best expects the program to develop as the business expands.
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.