Best Assigns ‘B’ Rating to Unique
A.M. Best Co. has assigned a financial strength rating of ‘B’ (Fair) and an issuer credit rating (ICR) of “bb” to Chicago-based Unique Insurance Company with a stable outlook.
“The ratings reflect Unique’s elevated underwriting leverage and expense ratios and its concentration of risk in Illinois,” said Best.
Partially offsetting these negative rating factors are the company’s favorable operating results in recent years and its solid surplus growth. The rating outlook is based on the long-term consistency of Unique’s operating results.
Source: A.M. Best – www.ambest.com
Popular Today
- A Super Yacht Armada Came to Miami, Leaving a Marine Graveyard in Its Wake
- Viewpoint: Boom in Hyperscale Data Centers Puts Re/Insurers to the Test
- North Carolina Becomes First State to Pass Outright Ban on Litigation Financing
- Florida’s Unemployment Rate Is Surging Even as High-Profile Companies Move In