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| [May 15, 2018] |
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A.M. Best Revises Outlooks to Positive for Benchmark Insurance Company
A.M. Best has revised the outlooks to positive from stable and
affirmed the Financial Strength Rating of A- (Excellent) and the
Long-Term Issuer Credit Ratings of "a-" of Benchmark Insurance Company
(Benchmark) (Topeka, KS).
The Credit Ratings (ratings) of Benchmark reflect its balance sheet
strength, which A.M. Best categorizes as very strong, as well as its
strong operating performance, limited business profile and appropriate
enterprise risk management.
The revised outlooks to positive from stable are based on Benchmark's
strong operating performance and increased risk-adjusted capitalization
driven by steadily increasing underwriting earnings and net investment
income. Benchmark's balance sheet strength is supported by risk-adjusted
capitalization being at the strongest level, favorable loss reserving
trends in recent years, a prudent investment portfolio and strong
liquidity and cash flow measures.
As a result, the company's five-year average pre-tax and total returns
on revenue and equity exceed composite averages as does its five-year
average combined and operating ratios. These positive rating factors
generated a double-digit cumulative average growth in policyholders'
surplus over the most recent five-year period. The strong underwriting
performance is reflective of management's conservative risk selection
being limited to small and mid-sized specialty programs,primarily
workers' compensation business. Benchmark is licensed in 49 states and
provides risk sharing and serves as a vehicle for companies to broadly
distribute their products.
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 Recent
Rating Activity web page. For additional information
regarding the use and limitations of Credit Rating opinions, please view Understanding
Best's Credit Ratings. For information on the proper media
use of Best's Credit Ratings and A.M. Best press releases, please view Guide
for Media - Proper Use of Best's Credit Ratings and A.M. Best Rating
Action Press Releases.
A.M. Best is the world's oldest and most authoritative insurance
rating and information source. For more information, visit www.ambest.com.
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its
affiliates. ALL RIGHTS RESERVED.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180515006614/en/
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