Best’s News & Research Service - October 07, 2021 03:36 PM (EDT)
AM Best Assigns Credit Ratings to Orion Indemnity Company
- October 07, 2021 03:36 PM (EDT)
Oldwick //BestWire// - AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent) to Orion Indemnity Company (OIC) (Fullerton, CA). The outlook assigned to these Credit Ratings is stable. OIC is an affiliate of Mercury Casualty Company, which is the lead member of Mercury Casualty Group (Mercury)
The ratings of OIC reflect the consolidated balance sheet strength of Mercury, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
The rating assignment level reflects OIC’s role as a member of Mercury. Explicit support is provided to OIC through participation in a quota share reinsurance program with Mercury Casualty Company. OIC will serve a niche personal auto insurance market in California. The company provides the group product diversification in California.
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.