AM Specialty Insurance Company has announced that AM Best has reaffirmed its Financial Strength Rating (FSR) of A- (Excellent) with a stable outlook.
This recognition highlights ASIC’s focus on underwriting quality, disciplined risk management, and growth within the Excess and Surplus (E&S) lines market.
AM Best cited ASIC’s exceptionally strong risk-adjusted capitalisation, supported by a Best’s Capital Adequacy Ratio (BCAR) score at the 99.6% confidence level, as a significant factor in maintaining this rating.
Additionally, the company’s investment strategy, emphasis on low-limit, non-natural catastrophe risks, and reinsurance partnerships further contribute to its financial stability.
Since its establishment in 2022, ASIC has demonstrated consistent growth, achieving $140 million in gross premiums in 2024, an increase from $100 million in 2023.
This progress underscores the company’s focus on selective underwriting and offering capacity for high-quality, low-volatility risks. Throughout 2024, ASIC sustained stability and profitability by leveraging proprietary technology, data-driven strategies, and the expertise of its management team.
“This affirmation by AM Best validates our strategic vision and the hard work of our team,” added Shevawn Barder, CEO of AM Specialty. “As we continue to expand our book of business, our commitment to delivering tailored solutions and financial security to our partners is stronger than ever.”
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