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FOR IMMEDIATE RELEASE
OLDWICK, N.J. - JULY 09, 2025 01:47 PM (EDT)
AM Best has placed under review with positive implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Granular Insurance Company (Granular) (Charleston, SC).
The actions on these Credit Ratings (ratings) are due to the completion of Granular’s acquisition by Elevance Health, Inc. (Elevance) in April 2025.
AM Best has placed these ratings under review with positive implications pending completion of its discussions with the new ultimate parent, Elevance, as to the direction of Granular’s balance sheet strength, operating performance, business profile, strategic direction and its enterprise risk management. The positive implications are owing to the current financial strength of Elevance, as well as the explicit support Granular receives as a recently acquired entity. The ratings will remain under review with positive implications while AM Best has discussions with management about the strategic and financial plans for Granular.
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.