A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘B++’ (Good) and assigned issuer credit ratings (ICR) of “bbb+” to Arbella Insurance Group of Quincy, Mass. and its members – Arbella Mutual Insurance Company and its majority-owned subsidiaries, Arbella Indemnity Insurance Company, Arbella Protection Insurance Company, Covenant Insurance Company, Commonwealth Reinsurance Company and affiliate Commonwealth Mutual Insurance Company. The outlook for all ratings is positive. “Arbella’s ratings reflect its strong risk-adjusted capitalization, improved underwriting performance and reduced underwriting leverage over the past several years,” said Best. “The ratings also recognize Arbella’s established market presence as the third leading writer of personal automobile insurance in the highly regulated Massachusetts market.”
Standard & Poor’s Ratings Services has revised its outlook on R.V.I. Guaranty Co. Ltd., R.V.I. America Insurance Co. , and R.V.I. National Insurance Co. (collectively referred to as RVI) to stable from negative. S&P also affirmed its ‘A-‘ counterparty credit and financial strength ratings on these companies. “The revision to a stable outlook is based on the view that the significant issues regarding potential real estate property losses, management turnover, and client concentrations have largely been addressed,” stated S&P credit analyst Damien Magarelli.
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