A.M. Best Removes From Under Review With Developing Implications and Upgrades Credit Ratings of Blackboard Specialty Insurance Company and Blackboard Insurance Company
OLDWICK, N.J.--(BUSINESS WIRE)--Aug 10, 2018--A.M. Best has removed from under review with developing implications and upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” from “a-” of Blackboard Specialty Insurance Company (BSIC) (formerly known as Hamilton Specialty Insurance Company) and Blackboard Insurance Company (BIC) (formerly known as Hamilton Insurance Company). BSIC and BIC are domiciled in Wilmington, DE. The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings of the members of the AIG Property Casualty US Insurance Group (AIG PC US) have been extended to BSIC and BIC due to the significant level of reinsurance support provided to BSIC and BIC by National Union Fire Insurance Company of Pittsburgh, Pa., the lead member of the group. This position is further enhanced by the companies’ support of AIG PC US’s business strategy with a focus on the nonadmitted and admitted middle market commercial insurance space.
The ratings of BSIC and BIC reflect the balance sheet strength of the members of AIG PC US, which A.M. Best categorizes as strongest, as well as the group members’ marginal operating performance, favorable business profile and appropriate enterprise risk management.
This press release relates to Credit Ratings that have been published on A.M. 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 A.M. Best’s web page. For additional information regarding the use and limitations of Credit Rating opinions, please view . For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view .
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CONTACT: A.M. Best
Darian Ryan, +1 908-439-2200, ext. 5449
Senior Financial Analyst
Michael Lagomarsino, CFA, FRM, +1 908-439-2200, ext. 5810
Christopher Sharkey, +1 908-439-2200, ext. 5159
Manager, Public Relations
Jim Peavy, +1 908-439-2200, ext. 5644
Director, Public Relations
KEYWORD: UNITED STATES EUROPE NORTH AMERICA NEW JERSEY
INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE INSURANCE
SOURCE: A.M. Best
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PUB: 08/10/2018 12:13 PM/DISC: 08/10/2018 12:13 PM