AM Best Assigns Credit Rating to Nebraska’s Omaha National

Omaha National Group, Inc., a tech-enabled provider of workers’ compensation insurance and payroll services, announced that AM Best has assigned the Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Omaha National Insurance Company, with an outlook assigned to those Credit Ratings of stable.

The ratings characterize Omaha National’s balance sheet strength as very strong, and notes its adequate operating performance, limited business profile and appropriate enterprise risk management. Nebraska-based Omaha National was initially assigned a preliminary credit assessment of A- by AM Best in November 2021.

Last month, Omaha National announced a $20 million unsecured senior debt financing facilitated by Cohen & Co., a financial services company specializing in fixed income markets, to allow the company to better serve clients as a full-stack carrier and facilitate financial strength ratings. Omaha National raised $45 million Series B funding from investors Accomplice, HighSage Ventures and Tull Investments in September 2021, and is also backed by investment firm Agman.

Source: Omaha National

Topics AM Best