AM Best Revises Outlooks to Negative for KW Specialty Insurance Company
- Wall Street surges to all-time closing high on earnings, economic revival
- Was Intel's (INTC) Second Quarter a Speedbump or Inflection?
- Twitter (TWTR) Gains After Beating Q2 Estimates, Analysts Raise PTs as Brand Recovery Accelerates
- U.S. dollar on track for second week of gains; Fed meeting in focus
- Snap (SNAP) Surges 17% After Smashing Q2 Views Across the Board to Yield a Dozen Price Target Hikes
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of KW Specialty Insurance Company (KW Specialty) (Wilmington, DE).
The Credit Ratings (ratings) reflect KW Specialty’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
The negative outlooks reflect the pressure on KW Specialty’s operating performance as management continues to experience worse-than-expected underwriting and operating results since inception. While much of the formerly underperforming business has been terminated, management’s ability to execute on its new business plans for 2021 becomes critical in stabilizing the ratings going forward. KW Specialty maintains the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR).
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
Senior Financial Analyst
+1 908 439 2200, ext. 5135
Senior Financial Analyst
+1 908 439 2200, ext. 5372
Manager, Public Relations
+1 908 439 2200, ext. 5159
+1 908 439 2200, ext. 5644
Source: AM Best
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mechanics Bank Announces $165 million Aggregate Special Dividend
- CSE Bulletin: New Listing - Peak Fintech Group Inc. Warrants (PKK.WT)
- Dorchester Minerals, L.P. Announces Its Second Quarter Distribution
Create E-mail Alert Related CategoriesBusiness Wire, Press Releases
Related EntitiesAM Best Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!