The “Api” financial strength rating on San Diego-based Wawanesa Mutual Insurance Co. (U.S. branch) was affirmed by S&P. Key factors in the rating action include the company’s strong capital position and excellent profitability, which were partially offset by volatility in premium growth and high geographic concentration. The company, whose major line of business is personal automobile insurance, is licensed only in California. Its parent company is Wawanesa Mutual Insurance Co. of Winnipeg, Manitoba. However, the rating does not include additional credit for implied group support.
Was this article valuable?
Here are more articles you may enjoy.
Chubb Posts Record Q4 and Full Year P/C Underwriting Income, Combined Ratio 
Owner of Assisted Living Home Where 10 Died in Fire Denied Access to Insurance Funds 
Chubb CEO Greenberg on Personal Insurance Affordability and Data Centers 
GEICO Settles Call-Center Worker Suits for $940,000; Attorneys Get Half From This Issue
