AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit ratings of “a-” (Excellent) of Accelerant Holdings’ rated subsidiaries, including Bermudian-based A.
AM Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of "a-" (Excellent) to Accelerant Re Ltd. (Accelerant Re) (Bermuda). The
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LONDON and ATLANTA, March 8, 2021 /PRNewswire/ Accelerant Holdings ( Accelerant or the Company ), the parent company of an underwriting group that specializes in serving a carefully selected and managed network of member managing general agencies and program administrators ( Members ), today announced the acquisition of Commonwealth Insurance Company of America ( CICA ) from Brit Group, a subsidiary of Fairfax Financial (TSX: FFH). CICA is a Delaware domiciled admitted insurance carrier with licenses in 48 states and the District of Columbia. Along with the previously announced formation of Accelerant Specialty Insurance Company ( ASIC ), a surplus lines carrier domiciled in Arkansas, CICA is Accelerant s second owned statutory entity in the U.S. This acquisition enables the Company to serve its best-in-class Members across both non-admitted and admitted market segments. Accelerant remains rated A- (Excellent) by AM Best within its Financi
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AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Accelerant Insurance Limited (AIL) (Malta) and Accelerant Specialty Insurance Company (ASIC) (Little Rock, AR). The companies are wholly owned subsidiaries of Accelerant Holdings (Accelerant) (Cayman Islands), the non-operating holding company of the Accelerant group. The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect the strategic importance of AIL and ASIC to the Accelerant group, along with Accelerant’s consolidated balance sheet strength, which AM Best categorises as very strong, as well as the group’s adequate operating performance, limited business profile and appropriate enterprise risk management.