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AM Best assigns A- ratings to Ledgebrook Insurance Group insurers
The ratings have a stable outlook and are tied to Ledgebrook maintaining its highest risk-adjusted capital position using BCAR over its first five years.
AM Best assigned an A- Financial Strength Rating to Ledgebrook Specialty Insurance Company and an “a-” Long-Term Issuer Credit Rating, ratings also applied to Stonehaven Specialty Insurance Company, which together form Ledgebrook Insurance Group.
The group is part of Ledgebrook Inc., a technology-enabled insurance business based in Boston, and AM Best said the ratings reflect a very strong balance sheet, adequate operating performance, a limited business profile, and appropriate enterprise risk management.
AM Best set a stable outlook and linked its balance sheet strength view to expectations that Ledgebrook Insurance Group will maintain the strongest level of risk-adjusted capitalisation, based on Best’s Capital Adequacy Ratio, throughout its first five years of operation.
As Ledgebrook Insurance Group is newly established, AM Best said its expected operating performance will depend on effective implementation of its five-year business plan, with any deviations kept within manageable levels, and noted that its proprietary technology platform supports data quality and more efficient pricing.