AM Best Upgrades Capital Insurance Group in California

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.