AM Best Affirms Credit Ratings of Trisura Group Ltd. Members

OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Trisura Specialty Insurance Company (Trisura Specialty), Trisura Insurance Company (TIC) and Trisura Guarantee Insurance Company (Toronto, Ontario, Canada), which comprise Trisura Group Ltd. (Trisura). Trisura Specialty and TIC are domiciled in Oklahoma City, OK. The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect Trisura’s consolidated balance sheet strength, which AM Best categorises as very strong, as well as the group’s adequate operating performance, neutral business profile and appropriate enterprise risk management.

AM Best expects Trisura to maintain the strongest level of consolidated risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), while considering the execution of its business plans featuring premium growth in both the Canadian and U.S. enterprises, as well as future potential debt offerings to approach a debt-to-capital ratio of 20%.

The adequate operating performance assessment considers the profitability of the Canadian business and the continued execution of the U.S. fronting business plans. The group has senior management and underwriting teams in place that have extensive experience in the targeted classes of business. In AM Best’s view, this increases the likelihood of successful execution of the group’s business plan.

The ratings also acknowledge the operational integration between the operating subsidiaries of Trisura, as each entity shares investment management, marketing and accounting services, and risk frameworks. Each operation contributes materially to the overall earnings of the organization, and each entity is considered a critical part of the business plan.

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 use of Best’s Credit Ratings, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

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.

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Brian Lynch, CFA
Financial Analyst
+1 908 439 2200, ext. 5279
[email protected]

Raymond Thomson, CPCU, ARe, ARM
Associate Director
+1 908 439 2200, ext. 5621
[email protected]

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
[email protected]

Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
[email protected]

Source: AM Best

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