Best’s News & Research Service - March 30, 2022 08:16 AM (EDT)
AM Best Assigns Credit Ratings to Bricktown Specialty Insurance Company
- March 30, 2022 08:16 AM (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 Bricktown Specialty Insurance Company (BSIC) (Oklahoma City, OK). The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect BSIC’s balance sheet strength, which AM Best assesses as very strong, as well as the its adequate operating performance, neutral business profile and appropriate enterprise risk management.
BSIC is a newly formed subsidiary of Trisura Group Ltd. (Trisura) admitted in Oklahoma, and operates as an excess and surplus lines insurer in all other states. Similar to Trisura’s other subsidiary insurers, BSIC will insure program business primarily, ceding most, but not all, of the exposure to third-party and affiliated reinsurers. The ratings of BSIC also reflect intercompany financial and expense sharing agreements with its ultimate parent, Trisura, and Trisura’s other subsidiary insurers. Additionally, the ratings consider the commonality in management, infrastructure, operational capabilities and systems between the Trisura companies.
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 Performance Assessments, 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.