Monterey, Calif.-based Capital Insurance Group has been upgraded by AM Best. CIG received a rating of A (Excellent) from A- (Excellent).
AM Best stated: “Concurrently, AM Best has upgraded the FSR to A (Excellent) from A- (Excellent) and the Long-Term ICR to “a” from “a-” of California Capital Insurance Company (Monterey, CA) and its subsidiaries, which operate under an intercompany pooling arrangement, collectively referred to as Capital Insurance Group (Capital). The outlook of these ratings is stable.”
AM Best referenced as strengths in the rating including Capital’s balance sheet strength, and the substantial support Capital has received from Auto-Owners.
“AM Best’s upgrade of our overall rating is outstanding news for CIG,” Andy Doll, senior vice president and chief operating officer said in a statement.
CIG is a regional property/casualty insurer offering agriculture, commercial, and personal coverage across Arizona, California, Nevada, Oregon and Washington.
Topics California AM Best
Was this article valuable?
Here are more articles you may enjoy.
Rotting Apple: Berkley Explains Property Market, Company Appetite 
The Hartford Q3 Net Income Up 41% 
Hurricane Melissa Churns Toward Jamaica as Category 5 Storm 
AWS Outage a ‘Moderate Incident,’ Another Near Miss for Insurance Industry 
