AM Best Upgrades Credit Ratings of MS Transverse Specialty Insurance Company, MS Transverse Insurance Company and TRM Specialty Insurance Company
- June 20, 2025 11:19 AM (EDT)
//BestWire// - AM Best has upgraded the Financial Strength Rating to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Ratings to “aa” (Superior) from “a+” (Excellent) of MS Transverse Specialty Insurance Company, MS Transverse Insurance Company and TRM Specialty Insurance Company, collectively referred to as MS Transverse Insurance Group (MS Transverse). The outlook of these Credit Ratings (ratings) is stable. These companies are domiciled in Dallas, TX, and are now part of MSIG Holdings (U.S.A.), Inc., a U.S. subsidiary of Mitsui Sumitomo Insurance Company, Limited (MSI).
The ratings reflect the consolidated balance sheet strength of MSI, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
The upgrade reflects the assignment of full rating enhancement to MS Transverse due to the increased level of support by its ultimate parent, MS&AD Insurance Group Holdings, Inc. (MS&AD), and its lead insurance entity, MSI. The ratings of MSI are being extended to MS Transverse given the implicit and explicit support provided by MSI. MS Transverse is regarded as strategically important to the group’s strategy and is viewed as one of its main sources of growth in the U.S. market.
MS Transverse has advanced its position in the U.S. managing general agent market and is now among the top five fronting carriers based on direct premiums written. MS Transverse was acquired in early 2023 to expand MSI’s U.S. operations into the rapidly growing fronting market. Since the acquisition, MSI’s support to MS Transverse has included a full unconditional guarantee, participation in the reinsurance panel and the willingness to provide additional capital support if required. MS Transverse’s management team has a direct reporting line into MSI and shares services with other U.S. affiliates of MSI. MS Transverse’s profitability grew materially in 2024 and through the first quarter of 2025, making it a significant earnings contributor to the parent. MSI remains committed to supporting MS Transverse’s growth.
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.