Best’s News & Research Service - February 25, 2020 01:09 PM (EST)
AM Best Assigns Credit Ratings to Rockingham Specialty Inc., a New Member of Rockingham Group
- February 25, 2020 01:09 PM (EST)
Oldwick //BestWire// - AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-term Issuer Credit Rating of “a” to Rockingham Specialty Inc. (RSI) (Harrisonburg, VA). The outlook assigned to these Credit Ratings (ratings) are stable.
The ratings reflect RSI’s balance sheet strength, which AM Best categorizes as strongest as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
The rating actions reflect RSI’s inclusion into the property/casualty operating companies of Rockingham Mutual Group, Inc., which includes Rockingham Insurance Company and Rockingham Casualty Company. These companies operate under a new intercompany pooling agreement and collectively are referred to as Rockingham Group. The ratings of Rockingham Group are being extended to RSI due to its strategic importance to the group and given the explicit support provided through the pooling agreement.
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 media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
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 New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.